PRESS DIGEST- Financial Times - March 6

March 6 Wed Mar 5, 2014 8:46pm EST

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March 6 (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

Ukraine crisis: Blows for west in bid to counter Moscow

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Scottish 'Yes' vote could force banks south

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ExxonMobil targets $5.5 billion spending cuts

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Bank of England suspends employee amid forex probe

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Barclays' bonus move leads to investment arm shake-up calls

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Overview

Diplomatic efforts to counter Russia's takeover of Crimea were in trouble on Wednesday after Kremlin refused to accept the legality of the new Ukrainian government and western allies scrambled to produce a united front on how tough a line to take with Moscow.

A two-decade-old European Union law could force Lloyds Banking Group and Royal Bank of Scotland to shift their legal domicile from Edinburgh to London if Scotland becomes independent.

Exxon Mobil has promised cuts in capital spending and reduced its expectations of future production joining other oil majors like Chevron and Royal Dutch Shell.

A Bank of England employee was suspended and a new investigation launched after allegations that its officials condoned or were aware of market manipulation embroiling the bank into an escalating foreign exchange scandal.

Barclays decision to pay higher bonuses despite falling profits has some shareholders calling for a management shake-up at the top of its investment banking division, even as the group faces an escalating political row.

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