March 15, 2013 / 1:01 AM / 5 years ago

PRESS DIGEST - Financial Times - March 15

March 15 (Reuters) - Headlines

JPMorgan accused of lying over $6 bln loss

Fed rebukes Goldman and JPM plans

King speaks out to halt sterling’s fall

Osborne weighs monetary activism options

Schroders’ Richard Buxton resigns

Carlyle European property fund heads leave

Irish company kept horsemeat secret China Mobile to invest $30.6 bln in 4G


A senate panel has slammed JPMorgan Chase & Co, accusing the company of lying to investigators and misleading investors about its 6 billion trading loss.

The Federal Reserve has ordered Goldman Sachs and JPMorgan Chase to improve their capital adequacy even as the Fed approves their plans to return capital to shareholders.

Chancellor George Osborne sent his chief economic adviser to the United States last month to sound out opinion formers on options for a new era of growth-promoting monetary activism.

Bank of England Governor Mervyn King’s said he did not expect a further fall in sterling and that markets judged that the currency was at an appropriate level.

Schroders Plc said its head of UK equities, Richard Buxton, would leave the company after a career spanning more than a decade with the investment management company. The co-heads of Carlyle’s European real estate funds are leaving the company, a move that has angered investors in one of its three property funds weighed down by huge losses.

An investigation by the Irish government has revealed that a meat plant in the country uncovered several cases of contamination of its beef supplies with horsemeat in June last year but kept it secret until February 2013 - three weeks after the scandal erupted. China Mobile, the world’s largest telecom carrier by subscribers, will boost its capital expenditure by half to $30.6 billion as it gears up for the launch of fourth-generation mobile services.

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