Aug 7 The following are the top stories in the
Financial Times. Reuters has not verified these stories and does
not vouch for their accuracy.
STANCHART EARNINGS DENTED BY SOUTH KOREA WRITEDOWN
TPG LOOKS FOR MORE TIME TO SPEND KEY FUND
SONY REBUFFS DANIEL LOEB'S PUSH FOR ENTERTAINMENT SPIN-OFF
DISNEY HELD BACK BY 'LONE RANGER' FLOP
COAL PRODUCER REJECTED MINES BID IN FAVOUR OF RESTRUCTURING
Asia-focused bank Standard Chartered took a $1
billion hit on its South Korean business, hurt by government
attempts to ease the country's heavy household debt, which
forced losses on banks.
Highlighting the difficulty of finding good deals in a
post-recession market, private equity company TPG has
asked investors in its $19 billion flagship fund if it can have
an extra year to spend $3 billion of capital.
Japan's Sony Corp rejected a proposal by U.S.
activist hedge fund manager Daniel Loeb, to spin-off part of its
entertainment business, sending shares down 5 percent on
Media giant Walt Disney forecast a writedown of up
to $190 million over the poor performance of its expensive
summer flop 'The Lone Ranger', a Western starring Johnny Depp.
A report compiled by PwC shows that UK Coal rejected
a bid from Hargreaves Services to buy its surface mines
and run its deep mines under contract, choosing instead to
undergo a reorganisation that may cost companies millions in