PRESS DIGEST- Financial Times - Oct 30
Oct 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.
RABOBANK AGREES TO PAY $1 BLN LIBOR FINE
BARCLAYS FACES NEW $700 MLN BILL
CREDITORS FEAR BEING LEFT WITH NOTHING AFTER OGX GAS SELL-OFF
BP PROMISES FURTHER $10 BLN OF ASSET SALES
HIGH STREET HORROR AS BLOCKBUSTER'S UK ARM COLLAPSES AGAIN
Rabobank agreed to a $1 billion fine to U.S., British and Dutch authorities, admitting that dozens of employees manipulated the Libor and other key benchmark interest rates over six years.
Barclays may need to pay out as much as $700 million to U.S. hedge fund Black Diamond, after losing an appeal in a five-year legal struggle when a New York supreme court found the bank liable for breach of contract over a vast credit derivatives transaction.
Creditor banks of Brazilian tycoon Eike Batista's OGX on Monday struck a private deal to sell off the troubled oil company's natural gas business. The move has other creditors and shareholders anxious that they will be left with next to nothing if OGX files for bankruptcy.
BP's Chief Executive Bob Dudley said the UK oil major plans to sell a further $10 billion worth of assets by the end of 2015, which could signal higher payouts to investors.
DVD rental chain Blockbuster's British arm is set to go back into administration for the second time in 10 months, putting 2,000 jobs at risk after poor retail and rental sales.
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