June 6, 2012 / 11:45 PM / 7 years ago

PRESS DIGEST - Financial Times - June 7

Financial Times

RUSSIAN WATCHDOG TARGETS TNK-BP DISPUTE

Russia’s anti-monopoly watchdog has proposed regulatory changes that would force the public disclosure of the confidential agreement at the centre of a stand-off between BP and its Russian billionaire partners in TNK-BP.

BANK OF CYPRUS SEEK FSA COVER FOR UK SAVERS

Bank of Cyprus is set to join the UK’s deposit protection scheme as it moves to insulate its 50,000 British savers from further turmoil in Greece.

MITTAL TO REDUCE CHINA STEEL AMBITIONS

Lakshmi Mittal has signalled a dramatic scaling back of ArcelorMittal’s ambitions to expand in China’s steel industry through an agreement to cut the company’s stake in one of the country’s top metals producers.

CANADIAN PM URGES CLOSER LINKS TO ASIA

Stephen Harper, prime minister of Canada, has said Washington’s decision to delay construction of a controversial oil pipeline was the “wake-up call” that Canada needed to reduce its dependence on its neighbour and strengthen links with Asia.

KOREAN BUYING SPREE BOOSTS BRENT PRICE

The price of the world’s most important oil benchmark is being boosted by South Korean refiners buying on the back of a tax loophole involving North Sea oil.

SOROS AMONG BRAZIL TELECOM BIDDERS

George Soros’s investment fund has been named as one of six groups bidding for Brazil’s new fourth-generation telecom licences as the country races to improve its infrastructure before hosting the World Cup and Olympics.

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