Aug 22 The following are the top stories in the
Financial Times. Reuters has not verified these stories and does
not vouch for their accuracy.
UK banks face 1.3 bln stg bill over latest mis-selling
Fed minutes show broad support for tapering this year
Singapore group, GIC, close to buying 1.7 bln stg Broadgate
Sale of AIG's $4.8 bln aircraft leasing unit in doubt
Lloyds to sell German unit Heidelberger Leben in
Vestas eyes 'future without surprises'
Financial institutions, including banks and credit card
issuers, will face a bill of about 1.3 billion pounds to redress
consumers who were mis-sold protection for identity theft and
credit card fraud.
Minutes of the U.S. Federal Reserve's July policy meeting
showed that Fed officials discussed lowering the unemployment
threshold, now set at 6.5 percent, for the first increase in
rates. With current U.S. unemployment at 7.4 percent, a change
in the threshold would reassure investors that the Fed will not
move to raise rates any time soon.
GIC Private Ltd, Singapore's sovereign wealth fund, is in
talks to buy Blackstone Group's stake in the Broadgate
office and retail complex in London for 1.7 billion pounds, in
what would be one of the biggest UK property deals since the
AIG's proposed $4.8 billion sale of its aircraft
leasing unit suffered a setback after a Chinese-led group pulled
out of the bid, underscoring doubts about the ability of Chinese
entities to secure approvals and funding for large overseas
British lender Lloyds Banking Group is selling a
German subsidiary and a portfolio of loans for more than 500
million pounds as it seeks to streamline its business and comply
with stringent regulatory capital demands.
Danish wind turbine maker Vestas ousted Chief
Executive Ditlev Engel, hoping to restore investor confidence
following a string of profit warnings and pending lawsuits from