PRESS DIGEST – Financial Times – Dec 13

The Financial Times

MYNERS CALLS FOR BIG BANKS’ BREAK-UP

Lord Myners, City minister in the last government and a key
figure in the financial bail-outs at the height of the global
crisis, has called for a break-up of Britain’s Lloyds Banking
Group (LLOY.L: ) and Royal Bank of Scotland (RBS.L: ).

http://www.ft.com/cms/s/0/9b51136c-0647-11e0-976b-00144feabdc0.html

CREDIT SUISSE CHIEF DEFENDS PAY MOVE

Credit Suisse (CRP.N: )’s chief executive defended his
decision to award one-off payments to about 400 senior employees
whose bonuses had been slashed to avoid a hefty UK tax, arguing
that the bank had to head off rivals’ attempts to poach staff.

http://www.ft.com/cms/s/0/93464bae-062b-11e0-976b-00144feabdc0.html#axzz17xthNozJ

PUSH FOR EUROZONE RESCUE FUND TO BUY DISTRESSED GOVERNMENT’S
BONDS

European officials are considering measures to overhaul the
eurozone’s 440 billion euro rescue fund, including using it to
buy bonds of distressed governments, say people involved in the
deliberations.

http://www.ft.com/cms/s/0/3f925148-062a-11e0-976b-00144feabdc0.html#axzz17xzRCt81

GE AGREES WELLSTREAM DEAL

General Electric (GE.N: ) is poised to seal a 755 million
pound-plus takeover of Wellstream (WSML.L: ), the UK oil and gas
services group, as part of an aggressive expansion into energy
services.

http://www.ft.com/cms/s/0/dc7a2c64-0635-11e0-976b-00144feabdc0,s01=1.html#axzz17xyfzvpF

BA IN TALKS TO CUT PENSION SHORTFALL

British Airways (BAY.L: ) is discussing changes to its pension
scheme rules that would enable it to slash its pension shortfall
almost in half.

http://www.ft.com/cms/s/0/4bb81e5c-0658-11e0-976b-00144feabdc0.html#axzz17y01IDBo

(Summary compiled by Reuters)

PRESS DIGEST – Financial Times – Dec 13