PRESS DIGEST- Financial Times - Nov 14

Wed Nov 13, 2013 8:53pm EST

Nov 14 (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

Cisco blames revenue fall on NSA leaks backlash

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Exits deal blow to Barclays turnaround

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Bank of England accelerates jobs forecast

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Starbucks beats the taxman through Kraft charge

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Rolls-Royce plans 3D printing for jet engine parts

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Wave of M&A predicted for telecoms and technology sectors

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Overview

Network equipment maker Cisco Systems Inc warned that revenue would decline by as much as 10 percent in the current quarter, blaming sliding demand due to a "level of uncertainty or concern" among customers after recent revelations about internet surveillance by the U.S. National Security Agency.

Two of Barclays' most senior bankers, including Britain's former top financial industry regulator Hector Sants, have resigned, dealing a blow to Chief Executive Antony Jenkins' attempts to revive the lender and restore its reputation.

The Bank of England brought forward its unemployment forecast on Wednesday and said it believes the UK economy is recovering so quickly that it is likely to consider raising interest rates from their historic lows as soon as this time next year.

The latest income tax bill for Starbucks Corp has been cut to zero after it was ordered on Tuesday to pay $2.7 billion to Kraft Foods for ending the companies' packaged coffee partnership early, the coffee chain revealed in its restated accounts on Wednesday.

Rolls-Royce, the world's second-largest maker of aircraft engines, is preparing to use 3D printing technology to make components, in a bid to speed up production and reduce the weight of parts.

Research Group CCS Insight predicted unprecedented mergers and acquisitions activity in the next two years in the technology and telecommunication sectors with a handful of large companies expected to expand their regional and global reach by 2016.

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