PRESS DIGEST- Financial Times - Sept 12

Sept 12 Wed Sep 11, 2013 8:51pm EDT

Sept 12 (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

LIBOR CONTROL TO REMAIN IN LONDON

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DEUTSCHE BANK TRADERS WRONGFULLY DISMISSED, COURT RULES

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CARGILL'S GREG PAGE TO RETIRE EARLY, DAVID MACLENNAN TO TAKE OVER

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WHISTLEBLOWER SUES MORGAN STANLEY OVER 'HARASSMENT'

BAKRIES FACE LEGAL CHALLENGE OVER BOND ISSUED BY PROPERTY ARM

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Overview

Morgan Stanley is being sued by an ex-auditor, claiming that senior executives and audit officers ignored and "whitewashed" his concerns that the bank was taking on too much credit risk before the global financial crisis.

A German labour court on Wednesday ordered Deutsche Bank to rehire four traders that it wrongfully dismissed during an internal probe into the global Libor scandal.

The European Commission will next week announce that London will remain the primary authority for Libor, despite plans earlier in the year to put the lending rate under the direct control of a European supervisor in Paris.

Leading global grains exporter Cargill said on Wednesday that its Chief Executive Greg Page is set to leave more than two years ahead of his mandatory retirement age, to be replaced by David MacLennan, the agribusiness' president and chief operating office.

A group of creditors - including hedge fund Cube Capital - on Wednesday commenced legal proceedings against the Indonesian Bakrie family in a payment dispute over a $155 million bond issued by Bakrieland Development, a property affiliate.