PRESS DIGEST- Financial Times - Sept 30

Sept 30 Sun Sep 29, 2013 7:44pm EDT

Sept 30 (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

Italy's PM seeks to shore up government

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Banks watchdog backs away from strict requirements

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Axa to spin out private equity arm

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Siemens to shed 15,000 jobs worldwide

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BP said to have rejected plan that might have stopped

spill early

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Intesa CEO quits after clash with shareholders

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Overview

Italy's prime minister Enrico Letta is urgently seeking parliamentary support for a new government after centre-right leader Silvio Berlusconi pulled the rug under the five-month-old coalition, sparking fears of a backlash from financial markets.

The world's banks watchdog could relax stringent capital rules on securitisation or asset-backed products as part of a second look at the instruments blamed for triggering the global financial crisis

French insurer AXA SA is set to confirm the closing of a deal to spin off its private-equity arm early this week in a transaction that would value the unit at 510 million euros ($690.6 million).

Siemens AG, Europe's biggest engineering firm, is to slash 15,000 jobs over the next year as part of a 6 billion euro cost-cutting programme.

BP shot down a plan that might have stopped its 2010 oil leak in the Gulf of Mexico within a month as it worried more about defending its public statements about the flow rate from the well, the company's legal opponents have alleged.

Italy's largest retail bank Intesa Sanpaolo ousted CEO Enrico Cucchiani on Sunday, following a clash with Italian shareholders.

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