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PRESS DIGEST- Financial Times - July 21
July 21, 2014 / 12:55 AM / in 3 years

PRESS DIGEST- Financial Times - July 21

July 21 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

SHARP FALL LOOMS AMONG TOP RANKS OF UK OFFICIALS IN EU COMMISSION

(on.ft.com/1qvxmqD)

STERLING‘S STRENGTH DENTS UK DIVIDENDS

(on.ft.com/1ruRIQh)

EU BANKS BEAT BONUS CAP WITH CASH ALLOWANCES

(on.ft.com/1ruRKYn)

GM PLANS BUDGET CAR RANGE FOR EUROPE

(on.ft.com/1pt3mX6)

SEVERSTAL TO SELL NORTH AMERICAN STEEL PLANTS FOR $2.3 BLN

(on.ft.com/1rgIIwA)

Overview

British Bankers’ Association report shows the number of British officials working in the European Union is sharply declining as they approach retirement, with no replacement in place.

Dividend payouts fall to their lowest levels in three year in the second quarter as a strengthening pound continues to hurt company profits.

A report to be published Monday by consultancy firm Mercer shows that more than 50 percent of banks in Europe intend to use cash allowances as compensation to bypass a cap on bonuses for higher-paid employees.

General Motors told the Financial Times that the manufacturer is planning a compact SUV to be introduced to the European market as part of a move toward the entry level segment in the continent.

Russian steelmaker Severstal will sell its North American assets for $2.3 billion to U.S.-based Steel Dynamics and AK Steel in its attempt to cut costs.

Compiled by Aashika Jain in Bangalore; Editing by Lisa Shumaker

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