PRESS DIGEST – Financial Times – July 12

The Financial Times

UniCredit (CRDI.MI: ) chief executive Alessandro Profumo said
a 20 billion euro rescue fund, financed by the private sector,
could be used to bail out failed banks.

Taylor Wimpey (TW.L: ), the UK’s third-largest house builder
by market value, is in talks with lenders over a refinancing
package that will enable the company to buy more land.

U.S. investment group Blackstone (BX.N: ) will manage a
portfolio of Asian real estate investments from Bank of America
Merrill Lynch, enabling the firm to expand its property deals in
the region.

Spain’s Santander (SAN.MC: ) is on the look out for
acquisitions across Latin America, targeting Peru and Colombia
over the next four or five years, the head of its Latin America
operations said.

A shortage of new offices in the City of London has driven
rents up 12 percent for the second consecutive quarter in the
strongest rental growth since 1988, NB Real Estat said.

China’s PetroChina (601857.SS: ) said it would “welcome”
closer cooperation with BP (BP.L: ) as the British oil giant tries
to cover liabilities from the Gulf of Mexico oil spill.

European banks hope to tap the bond markets in the coming
weeks in an effort to secure financing ahead of stress tests

(Summary compiled by Reuters)

PRESS DIGEST – Financial Times – July 12