April 12, 2012 / 11:55 PM / 7 years ago

PRESS DIGEST - Financial Times - April 13

Financial Times

INCOMING CO-CEO TO REVAMP DEUTSCHE BANK

Deutsche Bank’s incoming co-chief executive is planning an overhaul of its operations, aiming to make its wealth and asset management operations work more closely with its investment banking arm in bid to emulate the business model of Swiss rivals Credit Suisse and UBS.

JK ROWLING REVEALS TITLE AND PRICE OF NEXT NOVEL

A day after her publisher reached a settlement with the Department of Justice that is expected to cut the price of bestselling ebooks in the U.S. to $9.99, JK Rowling announced that the electronic edition of her next novel would be priced at twice that sum.

EU SEEKS NEW CURBS TO CAP BANK BONUSES

Bankers’ bonuses across Europe would be capped at no more than their fixed salaries under strict new curbs sought by senior lawmakers in response to continued public anger over financial sector pay.

GOOGLE TO PAY STOCK DIVIDEND

Google has announced an unusual two-for-one stock split that is designed to keep control of the company in the hands of its founders Larry Page and Sergey Brin for the long term.

TESCO TO FOCUS ON SMALLER STORES

Tesco is poised to slow its store expansion in the UK as part of the strategic blueprint to be outlined next week by new chief executive Philip Clarke.

BG IN SALE TALKS OVER BRAZIL GAS DISTRIBUTOR

BG Group is in talks with Cosan, Royal Dutch Shell’s Brazilian partner, to sell its 60 percent stake in the country’s largest gas distributor in a deal estimated to be worth more than $1 billion.

BLACKROCK LOOKS TO TAKE ON WALL STREET

BlackRock, the world’s largest money manager by assets under management, has filed documents and is in talks with the Securities and Exchange Commission as it seeks an expansion of its broker dealer operation that will put it in direct competition with traditional Wall Street banks.

NEWS CORP FACES HACKING LAWSUITS IN US

News Corp could be exposed to further legal action in the U.S. after Mark Lewis, the lawyer representing dozens of public figures in the UK phone-hacking scandal, said he was planning to file three civil lawsuits in American courts.

UK RETAILER MORRISON IN STORES REVAMP

Wm Morrison will on Friday announce a shake-up of its commercial division as the company prepares to revamp its supermarkets, expand its network of smaller stores and extend into areas such as clothing.

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