May 15 The following are the top stories in the
Financial Times. Reuters has not verified these stories and does
not vouch for their accuracy.
BONUS CLAWBACK RULES 'UNENFORCEABLE', SAY BANKERS
SANCTIONS PUT SQUEEZE ON RUSSIA LOANS
CITI PURGES 11 STAFF LINKED TO BANAMEX FRAUD PROBE
CARNEY CAUTIOUS ON RATE RISE IN SPITE OF JOBS DATA
POLICE ACCUSE GLAXOSMITHKLINE CHINA HEAD OF 'ORDERING'
The British Bankers' Association has warned that the Bank of
England's proposals to impose the world's toughest rules for
clawing back bonuses from bankers could be unenforceable in the
UK and would be illegal in some countries.
Western banks are imposing tougher lending restrictions on
Russian companies as sanctions against the country start to
Citigroup has fired 11 staff, including four managing
directors, in Mexico after a two-month internal investigation at
its Mexican subsidiary, Banamex, into an alleged $400 million
fraud that forced the U.S. bank to cut its 2013 earnings.
Bank of England Governor Mark Carney played down
expectations of an imminent rise in interest rates even as new
figures show the British economy is producing new jobs at the
fastest rate on record.
GlaxoSmithKline was accused by Chinese authorities
of earning billions of renminbi in "illegal revenues" through a
programme of "massive and systemic bribery" as more pressure was
mounted on the pharmaceuticals group following a 10-month long
(Reporting by Tasim Zahid in Bangalore)