PRESS DIGEST – Financial Times – Aug 13

The Financial Times

BP TO PAY RECORD FINE OVER TEXAS CITY

BP (BP.L: ) will pay $50.6 million in fines over continued
safety violations in its Texas City refinery after an explosion
killed 15 and injured 70.
http://www.ft.com/cms/s/0/e878cca6-a63f-11df-8767-00144feabdc0.html

KNOC SIGNALS INTENT TO LAUNCH HOSTILE BID

KNOC (KNOH.PK: ), South Korea’s oil company, has signalled it
was willing to launch a 1.7 billion pound takeover for Dana
Petroleum (DNX.L: ) after the British oil company ended takeover
talks.
http://www.ft.com/cms/s/0/8f821bde-a635-11df-8767-00144feabdc0.html

VEDANTA IN TALKS TO BY CAITN INDIA STAKE

Vendata is in talks to buy a significant stake in Cairn
Energy’s Indian-listed subsidiary in a deal that would make
Vedanta the second diversified company in the world.
http://www.ft.com/cms/s/0/5a2bf490-a604-11df-9cb9-00144feabdc0.html

WHITACRE TO STEP DOWM AS GM CHIEF

General Motors [GM.UL] Chief Executive Ed Whitacre
unexpectedly announced that he was stepping down from his role
at the company on Sept 1 to be replaced by telecoms and finance
veteran Dan Akerson.
http://www.ft.com/cms/s/0/fffcc520-a609-11df-9cb9-00144feabdc0.html

INDIA DEADLINE FOR BLACKBERRY CRACKDOWN

The Canadian maker of BlackBerry, RIM, has said it will not
cut deals with specific countries in response to a public threat
by India that it could ban encrypted BlackBerry Internet
services.
http://www.ft.com/cms/s/0/2b79b78c-a63a-11df-8767-00144feabdc0.html

CENTRICA BOOSTS GAS RESERVES WITH SUNCOR DEAL

Centrica (CNA.L: ) has agreed to buy 97 natural gas wells and
42,000 acres of land in Canada, enabling its North American
operation to become an integrated production and supply
business.
http://www.ft.com/cms/s/0/f30805ca-a5da-11df-9cb9-00144feabdc0.html

PRESS DIGEST – Financial Times – Aug 13