PRESS DIGEST- Financial Times - July 4

July 4 Thu Jul 3, 2014 7:28pm EDT

July 4 (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

Google U-turn over deleted newspaper links

(on.ft.com/1mOZlsR)

Amazon embroiled in EU tax crackdown

(on.ft.com/1q0KUpf)

Barclays chairman warns heavy regulation could 'spoil' forex market

(on.ft.com/1lDgZzq)

BMW to build $1 bln car plant in Mexico

(on.ft.com/1mY2P13)

Private investigator facing trial in China attacks GSK

(on.ft.com/1pMtqBt)

Nazir steps down as chief of Malaysian bank CIMB

(on.ft.com/1qCJoxv)

Fidelity makes a stand on executive pay

(on.ft.com/1osKqZD)

Overview

Google Inc has begun restoring links to newspaper articles that it had scrubbed from its web engine this week following a European Union ruling in May on citizens' "right to be forgotten."

European officials have asked Luxembourg to hand over documents relating to Amazon.com Inc's tax affairs in the country, with the U.S. online retailer becoming the latest in a string of companies including Apple, Starbucks and Fiat's financial unit, that have been hit by a tax crackdown in the country.

Chairman of Barclays Plc on Thursday unveiled a new compliance academy intended to raise standards at the bank, arguing that foreign exchange markets were in the need of "fine tuning" rather than needing a heavy handed reform.

Germany luxury car maker BMW revealed plans to invest $1 billion to build a car plant in Mexico to tap customers in the U.S. market, following the suit of other premium automakers who have been seeking low-cost building location.

The British private investigator, detained in China in connection with his work for GlaxoSmithKline, has slammed out at the UK drugmaker for not revealing the full extent of the corruption allegations against it in China while hiring him.

Malaysian CIMB Group Holdings Bhd's Nazir Razak, one of southeast Asia's most prominent bankers, is stepping down as chief executive of Malaysia's second-largest bank by assets after 15 years.

One of the world's biggest fund management groups, Fidelity Worldwide Investment, has for the first time voted against the executive pay proposals of a large number of London-listed FTSE 350 companies it has holdings in. (Compiled by Esha Vaish in Bangalore; Editing by Lisa Shumaker)

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