PRESS DIGEST- Financial Times - March 3

March 3 Sun Mar 2, 2014 8:33pm EST

March 3 (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

World rounds on Russia over Crimea

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S&P's rise underpinned by borrowed money

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SEC probes fraud claim at Citigroup's Mexico arm

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RBS to cut US assets to ease legal burden

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Britain to scrap VAT on Bitcoin trades

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Overview

The international community condemned Russia's intrusion into Ukraine and warned that it could face economic isolation.

Concerns are being raised as U.S. stocks reach new highs by investors borrowing a record amount of money to invest in the market.

Citigroup's Mexican subsidiary is being investigated by the Securities and Exchange commission over the alleged fraud, which caused the bank to revise its earnings last week.

Royal Bank of Scotland plans to cut its assets in the United States in an attempt to circumvent new Federal Reserve rules that would force it to ring-fence a part of its capital to safe guard against any future crisis.

Britain's tax authority plans to scrap value added tax on Bitcoin trading, only days after the currency's leading exchange, Mt Gox, collapsed after losing almost $500 million of customer deposits to hackers.

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