July 31 The following are the top stories in the
Financial Times. Reuters has not verified these stories and does
not vouch for their accuracy.
BOFA ORDERED TO PAY $1.3 BLN IN 'HUSTLE' CASE
ALIBABA TALKS COULD PRICE SNAPCHAT AT $10 BLN
AMC IN TALKS FOR BBC AMERICA STAKE
JUNCKER CONSIDERS CREATING FINANCIAL SERVICES TSAR
GLAZERS TO SELL 8 MLN MANCHESTER UNITED SHARES
A judge ordered Bank of America to pay $1.3 billion
for a "brazen fraud" in which bank staff sold toxic mortgages to
government-backed mortgage companies Fannie Mae and
Snapchat, an app that lets users send messages that
disappear after a few seconds, has been in talks about selling a
stake to Chinese internet group Alibaba Group IPO-BABA.N as
part of a funding round that could value it at more than $10
billion, according to people familiar with the discussions.
AMC Networks is in exclusive talks to buy a near-50
percent stake in the BBC's flagship BBC America channel,
according to people familiar with the situation.
Jean-Claude Juncker, the incoming European Commission
president, is considering creating an EU financial services
directorate charged with regulating the London financial scene
and ensuring stability in the region.
The Glazer family is planning to sell about 5 percent of its
stake in Manchester United, taking advantage of the
football club's rising share price after its 750 million pound
($1.27 billion) kit supply deal with Adidas. The sale
will leave the Glazer family with about 83 percent of the club
in its hands.
($1 = 0.5914 British pounds)
(Compiled by Richa Naidu. Editing by Andre Grenon)