PRESS DIGEST- Financial Times - July 10

July 10 Wed Jul 9, 2014 7:57pm EDT

July 10 (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

AbbVie retraction shows panel has teeth

(on.ft.com/1r99c1T)

Citi to pay $7 bln to resolve U.S. probe

(on.ft.com/1rU46Ju)

Lufthansa considers launching low-cost long-haul service

(on.ft.com/1qKUlLN)

European regulators fine Servier of France

(on.ft.com/1jqRFT7)

UK's Financial Conduct Authority sets sights on high-frequency traders

(on.ft.com/VLE8L3)

Aldi and Lidl lead charge of discount supermarkets

(on.ft.com/1rU3l2Z)

Peer-to-peer lender wins landmark rating

(on.ft.com/1oCSLIL)

Overview

AbbVie Chief Executive Richard Gonzalez was on Wednesday forced to retract comments made by him while discussing shareholder support for the U.S. drugmaker' s 30 billion pound ($51.1 billion) bid for Shire after being caught out by British takeover rules.

Citigroup Inc is close to shelling out more than $7 billion to resolve a long-running investigation by the U.S. government into its sale of mortgage-backed securities, according to people familiar with the matter.

Germany's Lufthansa may launch a no-frills long-haul airline as part of wider plans by the company to stave off competition from low-cost and Middle Eastern carriers.

European Union antitrust regulators fined have fined six drugmakers including France's Servier a whopping 428 million euros ($583.8 million) for blocking the entry of cheaper generic competition to an expensive branded drug.

Britain's financial watchdog is launching a review of competition in the wholesale securities market as it eyes the practices used by high-frequency traders to get ahead on other investors.

Germany's Aldi is the global leader among discount food retailers that offer limited assortment grocery. Schwarz, which owns Lidl, took second place, according to a study by research firm Planet Retail.

A cross-selection of peer-to-peer (P2P) loans has gotten a credit rating from Standard & Poor's, marking the first time that a major credit rating agency has agreed to formally evaluate a securitisation from the fast-growing P2P sector. ($1 = 0.5877 British Pounds) ($1 = 0.7331 Euros) (Compiled by Esha Vaish; Editing by Lisa Shumaker)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.