July 18 The following are the top stories in the
Financial Times. Reuters has not verified these stories and does
not vouch for their accuracy.
Strategy switch at Bank of England
Boost for George Osborne as IMF backs 'Plan A'
GSK executive banned from leaving China
Cameron pressed on Lynton Crosby's tobacco industry links
Higher bank salaries poised to offset Brussels bonus cap
Peltz urges PepsiCo to buy Mondelez
Former traders sue Deutsche Bank for wrongful dismissal
The Bank of England retreated from its flagship asset buying
programme as a means to stimulate the economy, instead
signalling a more 'mixed' strategy centred on guiding financial
markets, minutes of the July Monetary Policy Committee meeting
The International Monetary Fund's governing body has backed
Finance Minister George Osborne's austerity push, overruling the
organisation's staff who have called for looser fiscal policy.
Drugmaker GlaxoSmithKline's finance director in
China, Steve Nechelput, has been banned from leaving the
country, the company confirmed on Wednesday.
Prime Minister David Cameron on Wednesday faced questions
over his chief election strategist Lynton Crosby's links to the
tobacco industry following the government's decision not to ban
branded cigarette packaging.
Four out of five banks are planning to raise base pay for
employees affected by a European Union-wide cap on bonuses, a
Activist shareholder Nelson Peltz has called on PepsiCo
to buy Mondelez in a $60 billion deal to first
form a snack foods company before spinning out its soda business
Four Deutsche Bank employees have sued the lender
after they were fired as part of an internal investigation into
the manipulation of benchmark interbank lending rates.