August 7, 2014 / 11:15 PM / in 3 years

PRESS DIGEST- Financial Times - Aug 8

Aug 8 (Reuters) - 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 lawsuit


RSA chief warns more writedowns possible


Norway’s oil fund to reveal voting intentions


Companies at Black Hat conference warned on cyber risk disclosure



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 meeting.

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 remotely. (Compiled by Esha Vaish in Bangalore)

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