August 11, 2014 / 11:22 PM / in 3 years

PRESS DIGEST- Financial Times - Aug 12

Aug 12 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.


Balfour Beatty rejects new Carillion deal


JSW Steel close to buying Italian steelmaker Lucchini


Royal Bank of Scotland to offload global Coutts arm


Equity research undergoes big structural changes


Avanti plots satellite launch



Balfour Beatty Plc is under pressure to prove that it can make it on its own, after the British infrastructure company rejected a second bid from rival Carillion Plc aimed at creating a 3 billion pound construction giant.

Indian billionaire Sajjan Jindal’s JSW Steel Ltd is in the final stages of negotiations to buy assets owned by Italian steelmaker Lucchini for a ‘nominal sum’, two sources say.

Royal Bank of Scotland Group Plc is considering selling the international operations of Coutts - its private bank that counts Queen Elizabeth II and David Beckham as clients - just months before the unit is expected to be fined for helping U.S. citizens evade taxes.

The equity research business in the UK is undergoing huge structural changes that are favouring independent group and hurting investment banking models, after the country’s financial watchdog last month endorsed European reforms intended to separate research from dealing commission.

Avanti Communications Group Plc is to launch its next satellite in 2017, as the British satellite operator looks to increase its coverage in Africa and Europe. (Compiled by Esha Vaish in Bangalore; Editing by Lisa Shumaker)

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