September 23, 2013 / 1:31 AM / in 4 years

PRESS DIGEST- Financial Times - Sept 23

Sept 23 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.


Twitter seeks pre-IPO credit line


Blow for Citi as trading revenues drop


Kenyan forces fight to rescue hostages in Nairobi


Fidelity challenges companies on long-term incentives


IPOs in UK head for best year since crisis


UK housebuilding surge predicted



Twitter Inc is in talks with a group of banks, including Morgan Stanley and JPMorgan Chase & Co, about a revolving credit facility worth hundreds of millions of dollars to gain extra flexibility ahead of its initial public offering, sources familiar with the discussions said.

Citigroup Inc saw a significant drop in trading revenue during the third quarter which could hurt the bank’s earnings, according to people familiar with conversations between investors and the bank in recent days.

Kenya said its security forces were trying to rescue the “many” civilians still trapped inside a shopping mall in Nairobi where at least 68 people were killed by Somali al Shabaab Islamists, as the country battled with its worst terrorist attack in more than a decade on Sunday.

Fidelity Worldwide Investment, one of the world’s biggest fund managers, has issued a warning to 400 companies it invests in to reform pay policy or face votes against remuneration at annual meetings in an effort to tie executive pay more closely to the performance of the company.

The UK is heading for its best year since the financial crisis with the value of stock market flotations already at $7.16 billion this year - more than eight times the amount raised by the same stage in 2012, according to Dealogic - boosted by confidence in the economy and support from U.S. investors.

The Home Builders’ Federation said the number of planning approvals for new homes jumped 49 percent between April and June compared with the same period last year, as government schemes to boost mortgage approvals helped build confidence in the housing market.

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