PRESS DIGEST- Financial Times - Dec 16
Dec 16 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.
ROYAL BANK OF CANADA CONSIDERS SPINNING OFF PROP TRADING UNITS
WESTINGHOUSE TO BUY 50 PERCENT STAKE IN NUGEN
VODAFONE HIT BY 250 MLN EURO LAWSUIT IN GREECE
JAPAN INSURER SOMPO SEEKS TO BUY CANOPIUS
CREDIT SUISSE TO FUND SOFTWARE MARKETPLACE
Royal Bank of Canada, the country's largest bank, is mulling over spinning off parts of its proprietary trading business, a move that demonstrates the long reach of the United States' new Volcker rule against banks speculating with their own money.
Toshiba's U.S. unit Westinghouse is close to announcing plans to buy Spanish utility Iberdrola's 50 percent stake in British nuclear consortium NuGen for over 100 million pounds ($163 million), according to sources.
Vodafone's Greek business has been slapped with a 250 million euro ($343 million) lawsuit claiming that the world's No. 2 mobile operator breached its contracts with a Greek retail partner.
Sompo Japan Insurance is in advanced talks to buy the privately held Lloyd's of London syndicate Canopius Group for about 600 million pounds.
Credit Suisse plans to back an online marketplace for investment banking and hedge fund software, highlighting the latest attempt by an investment bank to reduce the sector's fast-rising technology costs.
- Malaysian plane still missing; questions over false IDs |
- China draws 'red line' on North Korea, says won't allow war on peninsula
- Warning shots fired to turn monitors back from Crimea |
- Malaysian plane crashed off Vietnam coast: state media