PRESS DIGEST- Financial Times - Jan 27
Jan 27 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.
ECB poised for battle to ward off deflation
UK company profit warnings surge
UK car sector cars up for another year of robust sales
Warburg Pincus hires ArcelorMittal's former mining chief
Insurers shake up disaster modelling
ECB President Mario Draghi has hinted at buying bank loans to households and companies in an attempt to fight deflation in Europe. Speaking at the World Economic Forum in Davos, Draghi said ECB will leave its interest rates low for a long time and will act if situation warrants.
A research shows 31 companies of the FTSE-350 list warned of lower profits for the quarter ended December. Professional services firm EY said the same number of profit warnings was issued during the fourth quarter of 2008, the year of the financial crisis.
The UK car industry is set to see a 1 percent rise in new car sales in 2014 as fears of a saturated market disappear. UK's biggest car manufacturers told FT that they are expecting a more than 10 percent growth from last year.
U.S. private-equity firm Warburg Pincus has appointed Peter Kukielski, ArcelorMittal's former mining head, as "executive in residence" to aid its plan to buy non-core assets from natural resource groups.
A group of 22 insurers is preparing to launch a system to model natural disasters which would help them curb excessive exposure to heavy costs for calamities. Allianz, Zurich and the Lloyd's of London are part of this group.