PRESS DIGEST- Financial Times - Aug 29

Thu Aug 28, 2014 8:07pm EDT

Aug 28 (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

Obama damps speculation of Isis strikes in Syria

(on.ft.com/1ljaR5P)

Russia has 'well over 1,000 troops' in Ukraine, Nato warns

(on.ft.com/1vTg7hy)

Cameron braves Scottish visit to defend union

(on.ft.com/VQL6y6)

UKIP defection exposes Tory faultlines

(on.ft.com/1vr4IIu)

Shell seeks fresh arctic drilling permits

(on.ft.com/VTMy2s)

Deutsche Bank fined 4.7 mln stg by FCA over reporting blunders

(on.ft.com/1sKkcSR)

Overview

President Barack Obama said on Thursday that he has not yet developed a broad strategy for confronting Islamic State, dampening expectations of imminent US military action against Islamist radicals in Syria.

Moscow faced more backlash over growing evidence of its direct military involvement in eastern Ukraine after Nato warned on Thursday that Russia has well over 1000 troops operating inside the country.

Ahead of next month's independence referendum, British Prime Minister David Cameron issued a passionate defence of the UK and its economic benefits at a dinner of Scottish members of the CBI business lobby on Thursday night.

British Prime Minister David Cameron suffered a setback on Thursday when a lawmaker from his ruling Conservative party unexpectedly resigned and defected to the anti-EU UKIP party.

Royal Dutch Shell Plc has sought permission from the U.S. government to drill in the Arctic Ocean and is keeping open the possibility that it could drill there next summer

Deutsche Bank, Germany's largest lender has been fined 4.7 million pounds ($7.79 million)by Britain's financial watchdog after it failed to report correctly all its transactions of a certain type of equity derivative in a six-year period between 2007 and 2013 to the regulator. ($1 = 0.6030 British Pounds) (Compiled by Karen Rebelo; Editing by David Gregorio)