March 26 The following are the top stories in
the Financial Times. Reuters has not verified these stories and
does not vouch for their accuracy.
CANDY CRUSH DEVELOPER'S IPO RAISES $500 MLN DESPITE INVESTOR
UK GOVERNMENT TO SELL A FIFTH OF LLOYDS STAKE
FACEBOOK BETS $2 BLN ON VIRTUAL REALITY
BANKS PAY OUT $100 BLN IN US FINES
SANTANDER UK FACES 12.5 MLN STG FINE OVER POOR ADVICE
Mobile game maker King Digital Entertainment raised
$500 million from its stock market float late on Tuesday,
valuing the company's equity at $8 billion on a fully diluted
basis and making it one of the most valuable.
Britain's government announced plans to sell more than 4
billion pounds worth of its shares in Lloyds Banking Group
, moving a step closer to returning the lender to the
private sector before next year's election.
Facebook said it would buy Oculus VR, a maker of
virtual-reality glasses for gaming, placing a $2 billion bet
that virtual reality headsets will be the next big social
platform after computers and smartphones.
Banks have shelled out $100 billion in U.S. legal
settlements since the financial crisis, according to Financial
Times research, reflecting a substantial shift in political
attitudes towards the financial sector.
Santander UK is to be slapped with a 12.5 million-pound fine
by Britain's Financial Conduct Authority on Wednesday for
providing unsuitable investment advice to customers in its
(Compiled by Richa Naidu in Bangalore)