PRESS DIGEST- Financial Times - May 15

Wed May 14, 2014 8:42pm EDT

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May 15 (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

BONUS CLAWBACK RULES 'UNENFORCEABLE', SAY BANKERS

(link.reuters.com/fav39v)

SANCTIONS PUT SQUEEZE ON RUSSIA LOANS

(link.reuters.com/hav39v)

CITI PURGES 11 STAFF LINKED TO BANAMEX FRAUD PROBE

(link.reuters.com/jav39v)

CARNEY CAUTIOUS ON RATE RISE IN SPITE OF JOBS DATA

(link.reuters.com/kav39v)

POLICE ACCUSE GLAXOSMITHKLINE CHINA HEAD OF 'ORDERING' BRIBES

(link.reuters.com/mav39v)

Overview

The British Bankers' Association has warned that the Bank of England's proposals to impose the world's toughest rules for clawing back bonuses from bankers could be unenforceable in the UK and would be illegal in some countries.

Western banks are imposing tougher lending restrictions on Russian companies as sanctions against the country start to bite.

Citigroup has fired 11 staff, including four managing directors, in Mexico after a two-month internal investigation at its Mexican subsidiary, Banamex, into an alleged $400 million fraud that forced the U.S. bank to cut its 2013 earnings.

Bank of England Governor Mark Carney played down expectations of an imminent rise in interest rates even as new figures show the British economy is producing new jobs at the fastest rate on record.

GlaxoSmithKline was accused by Chinese authorities of earning billions of renminbi in "illegal revenues" through a programme of "massive and systemic bribery" as more pressure was mounted on the pharmaceuticals group following a 10-month long corruption investigation. (Reporting by Tasim Zahid in Bangalore)

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