Jan 20 The following are the top stories in the
Financial Times. Reuters has not verified these stories and does
not vouch for their accuracy.
UK REVIEWS BITCOIN TAX AS GLOBAL REGULATORS SEEK TO CASH IN
UK CAR INDUSTRY TO PRESS BUSINESS CASE AGAINST EU EXIT
SFO SECURES EXTRA FUNDS TO PURSUE ROLLS-ROYCE INVESTIGATION
UBS TO OUTSOURCE FIXED INCOME TRADING PLATFORM
HEDGE FUND PAIR BET ON BRITISH BANK ALDERMORE
The HM Revenue and Custom's department is reviewing a 20
percent value added tax on bitcoins, the virtual currency that
is tracked and traded over a peer-to-peer network with no
centralized authority. Traders have raised issues with VAT,
forcing them to look for more favourable markets globally.
The UK car industry will launched a study on the benefits of
Britain's European Union membership. The research, backed by the
Society of Motor Manufacturers and Traders, is aimed at
highlighting the industry's dependence on the European Union and
The Serious Fraud Office has received additional funding
from the UK Treasury in its probe of alleged bribery and
corruption by Rolls-Royce in China and Indonesia,
according to sources. The Treasury has agreed to a so-called
blockbuster funding "in the low millions" of pounds for the
SFO's probe, sources said.
Swiss bank UBS will begin outsourcing its fixed
income trading platform to two technology groups, French trading
software firm Murex and Ion Trading, in an attempt to save
costs, according to a source.
Hedge funds Toscafund and Lansdowne Partners have invested
about 40 million pounds of capital in Aldermore, a British bank
that could see a potential float in 2014. The bank said the deal
would help it "establish a wider dialogue with UK institutional
investors as the bank continues to review its capital markets
strategy which may, among other strategies, include an initial