PRESS DIGEST- Financial Times - Nov 4
Nov 4 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.
SAC to plead guilty to insider trading
Twitter poised to hit acquisition trail
Number of new City jobs fell slightly in October, says recruiter
European banks cut corporate lending
Blackstone tests waters with first security backed by rented homes
Steve Cohen's $15-billion hedge fund SAC Capital Advisors, currently fighting criminal insider trading charges, will plead guilty to securities fraud and pay over $1 billion in fines, a person familiar with the matter said. The announcement on the plea and fine is expected as soon as Monday, the source said.
Twitter , which is expected to list with a valuation of as much as $13.9 billion this week, is set to make a "substantial investment" after the initial public offering, to expand research and development including buying other companies for their products, technologies and staff.
The number of new jobs in London's financial district dropped slightly in October despite renewed optimism in the financial services sector, according to specialist recruiter Astbury Marsden.
Europe's largest banks have increased their risk exposure to sovereign debt by more than a quarter in 2011 and 2012, while reducing corporate lending as they prepare for stricter global capital rules, according to findings by Fitch Ratings.
Private equity group Blackstone will offer investors a novel security this week, backed by cash flow from more than 3,000 foreclosed homes across the United States that it bought and converted into rental properties.
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