CORRECTED-PRESS DIGEST- Financial Times - July 14

Mon Jul 14, 2014 5:27am EDT

(Corrects Bank of Cyprus item to say some of the customers, not thousands, are selling their stakes in the bank at a discount)

July 14 (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

JUNIOR TRADERS OFFERED IMMUNITY IN FOREX PROBE

(on.ft.com/1sQX8CF)

BOEING RESHAPES MILITARY STRATEGY IN THE FACE OF U.S. DEFENCE CUTS

(on.ft.com/1oUSORN)

NORTH DAKOTA OIL GROUPS STRIKE $6 BLN DEAL

(on.ft.com/1rjzONS)

BOE PUSHING TO EASE BASEL CAPITAL REQUIREMENTS ON SMALL LENDERS

(on.ft.com/W1F9i0)

BANK OF CYPRUS CUSTOMERS CUT THEIR LOSSES

(on.ft.com/1r9htFM)

Overview

Prosecutors from the U.S. Department of Justice are offering immunity deals to junior traders in London as they continue to investigate the alleged rigging of foreign exchange rates by banks and senior traders, according to sources.

Boeing said it was unlikely to increase revenue at its defence business before the end of the decade due to spending cuts by western governments, but vowed to compete aggressively for new U.S. military contracts that could provide growth after 2020.

North Dakota-based Whiting Petroleum said it would buy Kodiak Oil and Gas in an all-stock deal worth about $6 billion including debt.

The Bank of England has been lobbying for the easing of global capital requirements for small banks, concerned that the rules could make it harder for them to compete with larger rivals when offering mortgages and small business loans.

Some of the Bank of Cyprus customers whose deposits were seized as part of an extraordinary move to rescue the island from financial collapse are selling stakes in the bank at a discount. (Compiled by Richa Naidu; Editing by Sandra Maler)