PRESS DIGEST -Financial Times - Aug 27

Mon Aug 26, 2013 7:59pm EDT

Aug 27 (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

Telefónica sweetens E-Plus offer

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Cracks emerge in business support for second UK high-speed rail line

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Loeb raises Sotheby's stake

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Uralkali's Russian chief arrested in Belarus

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Nationwide steps back from SME loans

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Blavatnik wins $50 mln in JPMorgan lawsuit

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Overview

Telefonica won over top KPN shareholder Carlos Slim on Monday after raising its bid for the company's German mobile unit E-Plus to 8.55 billion euros ($11.5 billion)from 8.1 billion euros.

Britain should scrap plans for the 50-billion-pound high speed rail link between London and the north, the Institute of Directors, a large and influential business group, said on Tuesday.

Activist investor Daniel Loeb's hedge fund Third Point LLC increased its stake in Sotheby's to 5.7 percent, pushing shares in the auction house up as much as 6 percent on Monday.

The chief executive of Russia's Uralkali, the world's top potash producer, was arrested in Minsk on Monday after being invited to a meeting with the Belarusian prime minister, following the collapse of a joint Russian-Belarussian venture.

Nationwide, Britain's biggest customer-owned financial services group, has delayed its plans to expand into lending to small and medium-sized businesses as it struggles to meet tougher capital requirements set out by the financial regulator earlier this year.

A New York state judge ordered JPMorgan Chase & Co to pay more than $50 million of damages including interest to Leonard Blavatnik after the Russian-American billionaire won a claim for breach of contract in a lawsuit against the bank.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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