PRESS DIGEST- Financial Times - December 2

Sun Dec 1, 2013 7:40pm EST

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Dec 2(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

Industry near 'crisis point' over green taxes

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UK revival leaves envious eurozone in shade

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Water companies set to put lid on price rises

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Italian state fund is frontrunner to buy 20 percent stake in Versace

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BP expects surge in Deepwater payments

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Overview

Britain's industrial conglomerates told the Financial Times that green taxes imposed by the David Cameron government were putting the companies' UK plants at a competitive disadvantage compared to their European rivals'.

The economic recovery in Britain is drawing investors from all over the world, taking the eurozone by surprise. Economists are attributing this sudden strength in the UK to a revival in confidence and some predict that Britain would be the world's fastest growing developed economy in the next five years.

Britain's 19 water and sewage service operators are scheduled to submit their plan on Monday to hold rate hikes below the inflation rate until the end of the decade.

Fondo Strategico Italiano is the likely front-runner for a minority stake in Italian luxury brand Versace, estimated to be worth 850 million pounds, sources familiar with the matter told the Financial Times.

BP, in a court filing last week, revealed the oil major will begin receiving payments again on account of economic losses from the 2010 Deepwater Horizon oil spill.

Software firm Servelec will launch its initial public offering of 68.3 million shares with an expected valuation of 122 million pounds, making it the largest technology float in three years.

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