July 10 The following are the top stories in the
Financial Times. Reuters has not verified these stories and does
not vouch for their accuracy.
AbbVie retraction shows panel has teeth
Citi to pay $7 bln to resolve U.S. probe
Lufthansa considers launching low-cost long-haul service
European regulators fine Servier of France
UK's Financial Conduct Authority sets sights on
Aldi and Lidl lead charge of discount supermarkets
Peer-to-peer lender wins landmark rating
AbbVie Chief Executive Richard Gonzalez was on
Wednesday forced to retract comments made by him while
discussing shareholder support for the U.S. drugmaker' s 30
billion pound ($51.1 billion) bid for Shire after being
caught out by British takeover rules.
Citigroup Inc is close to shelling out more than $7
billion to resolve a long-running investigation by the U.S.
government into its sale of mortgage-backed securities,
according to people familiar with the matter.
Germany's Lufthansa may launch a no-frills
long-haul airline as part of wider plans by the company to stave
off competition from low-cost and Middle Eastern carriers.
European Union antitrust regulators fined have fined six
drugmakers including France's Servier a whopping 428 million
euros ($583.8 million) for blocking the entry of cheaper generic
competition to an expensive branded drug.
Britain's financial watchdog is launching a review of
competition in the wholesale securities market as it eyes the
practices used by high-frequency traders to get ahead on other
Germany's Aldi is the global leader among
discount food retailers that offer limited assortment grocery.
Schwarz, which owns Lidl, took second place,
according to a study by research firm Planet Retail.
A cross-selection of peer-to-peer (P2P) loans has gotten a
credit rating from Standard & Poor's, marking the first time
that a major credit rating agency has agreed to formally
evaluate a securitisation from the fast-growing P2P sector.
($1 = 0.5877 British Pounds)
($1 = 0.7331 Euros)
(Compiled by Esha Vaish; Editing by Lisa Shumaker)