PRESS DIGEST- Financial Times - Feb 12

Tue Feb 11, 2014 8:57pm EST

Feb 12 (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

BARCLAYS UNDER FIRE ON PAY AMID JOB CUTS

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BREVAN HOWARD SHUTS $2 BLN EMERGING MARKET FUND

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ALIBABA TO LAUNCH U.S. E-COMMERCE SITE

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SPRINT NEXTEL'S FOURTH-QUARTER LOSS TOPS $1 BLN

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ZELL JOINS BATTLE TO UNSEAT COMMONWEALTH'S BOARD

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Overview

Barclays Chief Executive Antony Jenkins faced an outpouring of criticism at his decision to boost bonuses by 10 percent even as Britain's third largest bank announced falling profit and 12,000 job cuts.

Brevan Howard, one of the world's biggest hedge fund managers, is shutting its $2 billion emerging market fund after slowing growth in developing economies dented the portfolio's performance last year, according to sources.

Alibaba , China's dominant e-commerce company that is gearing up for a public offering that could value it at about $140 billion, said on Tuesday that it would launch its first majority-owned e-commerce venture in the United States.

Sprint posted a fourth-quarter net loss of over $1 billion hit by the costs of its network upgrade, and stiff competition that has pushed the third-largest U.S. mobile operator to explore merger options with T-Mobile US.

Billionaire property investor Sam Zell has joined the effort to oust the board of the CommonWealth REIT, poised to lead a slate of alternative trustees, should CommonWealth investors vote to remove the current board.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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