PRESS DIGEST- Financial Times - July 7

July 7 Sun Jul 6, 2014 7:48pm EDT

July 7 (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

Goldman muscles in on Europe's private banks

Western banks start to pull out of Iraq

WiFi provider Gowex goes bankrupt and admits falsifying accounts

Russia's state oil champion Rosneft brims with ambition

Ex-JPMorgan trader challenges 'whale' findings

Home Office civil servant called to explain child abuse files loss

Overview

Goldman Sachs is looking to capitalise on the domain of centuries-old private banks in Europe by services offered by its European wealth management business and offfering loans to rich clients in the region.

Growing security concerns in Iraq is rattling western banks, forcing them to tighten controls on clients' funds and pull senior staff out of the country.

Spanish wireless networks provider Gowex was forced to declare bankruptcy and admit that the company's head had falsified accounts for at least the past four years.

Rosneft is setting out long-term targets and its CEO Igor Sechin is openly talking about the Russian state oil producer's large ambitions, although the U.S. government has imposed sanctions of its head and is threatening broader sanctions against the Russian oil industry.

A former JPMorgan Chase & Co trader has filed an appeal with a London tribunal court to challenge civil findings made by Britain's financial watchdog against the bank over the "London Whale" debacle of 2012.

A committee of MPs has asked the most senior official at the Home Office for an explanation as it how his department lost 114 files relating to child sex abuse in Westminster in the 1980s. (Compiled by Esha Vaish)

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