June 21 The following are the top stories in the
Financial Times. Reuters has not verified these stories and does
not vouch for their accuracy.
Global sell-off raises turbulence fears
EU data authorities threaten to fine Google
Germany blocks Turkey's bid to join EU
Swiss banks warned about risk levels
Pre-takeover Cadbury's aggressive tax avoidance exposed
Rio delays shipments from flagship Mongolian mine
U.S. Federal Reserve Chairman Ben Bernanke's announcement
that the U.S. central bank plans to pull back on its $85 billion
in monthly asset purchases sent global equities, bonds and
commodities into a tizzy on Thursday and has fuelled fears that
the world is entering a fresh phase of financial turbulence.
U.S. Internet giant Google Inc has been for the
first time threatened with a fine on Thursday by data protection
authorities in Europe if it does not change its policies on
collecting user data within three months.
Germany blocked moves to open a new chapter in Turkey's EU
membership talks next week, criticising Prime Minister Tayyip
Erdogan's heavy-handed response to weeks of anti-government mass
demonstrations and refusing to agree to open a new negotiation
UBS AG and Credit Suisse Group AG should
be more transparent about the risk they are running, the Swiss
National Bank said on Thursday in its yearly stability report,
and added that it still considers current leverage ratios at the
Swiss big banks to be low.
British confectionery maker Cadbury, before its takeover by
U.S. food group Kraft, engaged in aggressive tax avoidance
schemes that aimed at cutting its UK tax bill by more than a
Rio Tinto delayed inaugural shipments from its
flagship $6.2 billion Oyu Tolgoi copper mine in Mongolia after
the government withheld support on the eve of the expected