July 30, 2014 / 11:26 PM / 3 years ago

PRESS DIGEST- Financial Times - July 31

July 31 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

BOFA ORDERED TO PAY $1.3 BLN IN 'HUSTLE' CASE

(on.ft.com/1uIpUds)

ALIBABA TALKS COULD PRICE SNAPCHAT AT $10 BLN

(on.ft.com/UC74nY)

AMC IN TALKS FOR BBC AMERICA STAKE

(on.ft.com/1lehQaU)

JUNCKER CONSIDERS CREATING FINANCIAL SERVICES TSAR

(on.ft.com/1nK9Gfg)

GLAZERS TO SELL 8 MLN MANCHESTER UNITED SHARES

(on.ft.com/1zx1PFy)

Overview

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 Freddie Mac.

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)

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