PRESS DIGEST- Financial Times - Aug 5

Mon Aug 4, 2014 7:19pm EDT

Aug 5 (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

BES board accused of 'harmful acts'

(on.ft.com/1omsSLj)

AstraZeneca chairman Leif Johansson defends Pfizer rebuff

(on.ft.com/1qUB1yv)

KKR offers revised A$3.4 bln bid for Treasury Wine

(on.ft.com/UOgRY4)

Weir drops BofA as corporate broker

(on.ft.com/1xYRgs0)

HSBC Chairman Douglas Flint warns of 'danger' in staff becoming risk-averse

(on.ft.com/1pUxtWo)

UK regulators should probe gas market, says MP

(on.ft.com/1snBNRD)

Overview

Governor of the Bank of Portugal Carlos Costa has blamed the former board of Banco Espirito Santo for the troubled lender's problem, after the country committed to spend 4.9 billion euros ($6.58 billion) to rescue its largest listed bank.

British drugmaker AstraZeneca Chairman Leif Johansson wants to banish ideas popularised by supporters of U.S.-listed Pfizer who claimed he and the company's board were unaccommodating in the way they handled a takeover approach from the rival firm.

Australia's Treasury Wine Estates said it will engage in talks with KKR & Co LP after the world's largest listed winemaker received a revised takeover bid from the private equity firm.

British engineering firm Weir Group fired Bank of America Merrill Lynch as one of its two lead corporate brokers and kept on board Swiss bank UBS, after the former investment bank took on the same role for a rival firm.

Highlighting a widespread industry concern, HSBC Chairman Douglas Flint warned that the fear of punishment for making mistakes was causing employees at Europe's largest bank to become too risk-averse.

Britain's competition authorities should keenly investigate the wholesale gas market as they probe the country's biggest energy suppliers to determine whether the domestic energy sector is sufficiently competitive, said Tim Yeo, the chairman of the parliament's energy select committee.

($1 = 0.7450 Euros) (Compiled by Esha Vaish in Bangalore; Editing by Ken Wills)

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