PRESS DIGEST- Financial Times - Jan 22

Tue Jan 21, 2014 8:22pm EST

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Jan 22 (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

HUGE CASH PILE PUTS RECOVERY IN HANDS OF THE FEW

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INSURERS DASH GOVERNMENT HOPES OF EARLY PRODUCTS FOR ELDERLY CARE ()

CITY BANKERS WARN AGAINST UK'S POTENTIAL LOSS OF INFLUENCE IN EU ()

BC PARTNERS CONSIDERS 1 BLN POUNDS PHONES4U LISTING

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P2P LENDERS BANKROLL DEVELOPMENT OF NEW HOMES

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Overview

A third of the largest non-financial companies of the world have an unspent cash pile of $2.8 trillion, which has been accumulating since the financial crisis, a study by Deloitte reveals.

Long-term care products for the elderly are currently limited, and would be encouraged, the British care and support minister and the Association of British insurers said in a joint statement on Tuesday. Companies such as Aviva, Aegon , Legal & General however are yet to suggest that there would be any new launches in the market at the moment.

Citigroup Inc has warned against the United Kingdom opting out of the European Union, saying such a move could hurt the British economy and reduce investment from international companies.

British electrical good provider Phones4U is expected to be floated by private equity firm BC Partners for an initial public offering on the London Stock Exchange that would value the company to up to 1 billion pounds.

Alternative lender Wellesley & Co is targeting retail investors to fund small and medium-sized residential builders for new homes along with other peer-to-peer lenders such as Funding Circle and Assetz Capital.

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