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PRESS DIGEST - Financial Times - July 26
July 26, 2012 / 12:18 AM / in 5 years

PRESS DIGEST - Financial Times - July 26

Financial Times

Headlines

UK DATA RAISE FEARS FOR TRIPLE-A STATUS -

EX-CITI CHIEF WEILL URGES BANK BREAK-UP -

PAY-TV CASE RAISES FUNDING QUESTIONS FOR PROSECUTORS -

BLOW TO MAKING PROFITS ON SECURITIES LOANS -

CARNWATH RESIGNS FROM BARCLAYS BOARD -

MAN UTD PAUSES US LISTING PLANS -

TELEFONICA AXES DIVIDEND TO SHIELD ITSELF -

BANKS TOLD TO FIX SYSTEMS AFTER RBS CRASH -

FSA PROPOSES COMPENSATION SHAKE-UP -

AIRPORT STRIKE FOR EVE OF OLYMPICS CALLED OFF -

Overview

UK DATA RAISE FEARS FOR TRIPLE-A STATUS

Britain’s economy shrank far more than expected in the second quarter, which cost the country its triple-A rating.

EX-CITI CHIEF WEILL URGES BANK BREAK-UP

Citigroup’s former chief executive Sandy Weill has called for a break-up of large banks.

PAY-TV CASE RAISES FUNDING QUESTIONS FOR PROSECUTORS

The Premier League helped to fund the public prosecution of a man accused of importing cut-price satellite decoder cards.

BLOW TO MAKING PROFITS ON SECURITIES LOANS

Asset managers will have to return to investors in their funds any profits made from lending out securities in Europe under new rules.

CARNWATH RESIGNS FROM BARCLAYS BOARD

The Barclays non-executive director responsible for former chief executive Bob Diamond’s 17 million pound ($26 million) final pay package resigned on Wednesday.

MAN UTD PAUSES US LISTING PLANS

Manchester United has temporarily paused plans to launch its $300 million initial public offering in the U.S.

TELEFONICA AXES DIVIDEND TO SHIELD ITSELF

Telefonica has axed its dividend and cut directors’ pay in a drastic move to protect the company.

BANKS TOLD TO FIX SYSTEMS AFTER RBS CRASH

The Financial Services Authority plans to tell the UK’s biggest lenders To upgrade their dated IT systems.

FSA PROPOSES COMPENSATION SHAKE-UP

The FSA on Wednesday proposed an overhaul of the scheme that compensates retail customers when financial firms fail.

AIRPORT STRIKE FOR EVE OF OLYMPICS CALLED OFF

A strike by British immigration officers, scheduled for the eve of the Olympics, has been called off.

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