Feb 12 The following are the top stories in the
Financial Times. Reuters has not verified these stories and does
not vouch for their accuracy.
BARCLAYS UNDER FIRE ON PAY AMID JOB CUTS
BREVAN HOWARD SHUTS $2 BLN EMERGING MARKET FUND
ALIBABA TO LAUNCH U.S. E-COMMERCE SITE
SPRINT NEXTEL'S FOURTH-QUARTER LOSS TOPS $1 BLN
ZELL JOINS BATTLE TO UNSEAT COMMONWEALTH'S BOARD
Barclays Chief Executive Antony Jenkins faced an
outpouring of criticism at his decision to boost bonuses by 10
percent even as Britain's third largest bank announced falling
profit and 12,000 job cuts.
Brevan Howard, one of the world's biggest hedge fund
managers, is shutting its $2 billion emerging market fund after
slowing growth in developing economies dented the portfolio's
performance last year, according to sources.
Alibaba , China's dominant e-commerce company
that is gearing up for a public offering that could value it at
about $140 billion, said on Tuesday that it would launch its
first majority-owned e-commerce venture in the United States.
Sprint posted a fourth-quarter net loss of over $1
billion hit by the costs of its network upgrade, and stiff
competition that has pushed the third-largest U.S. mobile
operator to explore merger options with T-Mobile US.
Billionaire property investor Sam Zell has joined the effort
to oust the board of the CommonWealth REIT, poised to
lead a slate of alternative trustees, should CommonWealth
investors vote to remove the current board.