PRESS DIGEST - Financial Times - August 7

Tue Aug 6, 2013 8:46pm EDT

Aug 7 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

STANCHART EARNINGS DENTED BY SOUTH KOREA WRITEDOWN

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TPG LOOKS FOR MORE TIME TO SPEND KEY FUND

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SONY REBUFFS DANIEL LOEB'S PUSH FOR ENTERTAINMENT SPIN-OFF

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DISNEY HELD BACK BY 'LONE RANGER' FLOP

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COAL PRODUCER REJECTED MINES BID IN FAVOUR OF RESTRUCTURING

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Overview

Asia-focused bank Standard Chartered took a $1 billion hit on its South Korean business, hurt by government attempts to ease the country's heavy household debt, which forced losses on banks.

Highlighting the difficulty of finding good deals in a post-recession market, private equity company TPG has asked investors in its $19 billion flagship fund if it can have an extra year to spend $3 billion of capital.

Japan's Sony Corp rejected a proposal by U.S. activist hedge fund manager Daniel Loeb, to spin-off part of its entertainment business, sending shares down 5 percent on Tuesday.

Media giant Walt Disney forecast a writedown of up to $190 million over the poor performance of its expensive summer flop 'The Lone Ranger', a Western starring Johnny Depp.

A report compiled by PwC shows that UK Coal rejected a bid from Hargreaves Services to buy its surface mines and run its deep mines under contract, choosing instead to undergo a reorganisation that may cost companies millions in pension payments.

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