Aug 8 The following are the top stories in the
Financial Times. Reuters has not verified these stories and does
not vouch for their accuracy.
US bankstold to steer billions to hard-hit areas
KKR, Blackstone and TPG pay $325m to settle collusion
RSA chief warns more writedowns possible
Norway's oil fund to reveal voting intentions
Companies at Black Hat conference warned on cyber risk
The big U.S. banks may have to shell out billions of dollars
more as aid to distressed communities hit by the financial
crisis, with the U.S. Department of Justice and the Department
of Housing and Urban Development asking for new terms for
settling claims of mortgage sales abuses.
Buyout firms KKR & Co LP, Blackstone Group LP
and TPG Capital LP have agreed to pay $325 million to settle a
U.S. lawsuit that accused them, along with four other private
equity firms, of conspiring to fix prices on some of the world's
largest leveraged buyout deals.
RSA Insurance Group Plc CEO Stephen Hester has
warned shareholders that the insurer might face further asset
writedowns, as the company's head tries to rebuild the company
following setbacks, most seriously the past overstatement of
profits in Ireland.
Norway's sovereign wealth fund will start issuing public
declarations from next year, to state which way it intends to
vote on issues being presented at certain companies' annual
Researches at the Black Hat cyber security conference in Las
Vegas have drawn attention to flaws in cyber security they
believe could allow hackers to swipe credit card information
from over 600 retailers and control gadgets in hotel rooms
(Compiled by Esha Vaish in Bangalore)