PRESS DIGEST – Financial Times – July 26

The Financial Times

BP’S HAYWARD CLOSE TO EXIT

BP’s (BP.L: ) Chief Executive Tony Hayward is set to announce
his departure possibly as early as today. He is likely to get a
year’s salary and a pension pot accrued over 28 years at BP.
http://www.ft.com/cms/s/0/1f52cf82-97eb-11df-b218-00144feab49a.html

GOLDMAN FACING AUDIT THREAT BY U.S. PANEL

Goldman Sachs (GS.N: ) is facing a threat by the Financial
Crisis Inquiry Commission to bring in outside accountants to go
through the bank’s systems for information on its derivatives
operations.
http://www.ft.com/cms/s/0/1f9082ac-981b-11df-b218-00144feab49a.html

APOLLO USES LOOPHOLE TO CREATE NEW BANK

Apollo Management [APOLO.UL] will establish a new bank by
exploiting a provision in U.S. financial regulations allowing
banks to operate in multiple states without a national charter.
http://www.ft.com/cms/s/0/9b04ecc4-9817-11df-b218-00144feab49a.html

VIRGIN ACTIVE CONSIDERS LISTING, SALE

Virgin Active, the health club chain that has been
considering a stock market listing for over two years, is also
looking at a sale to a private equity group.
http://www.ft.com/cms/s/0/534b356e-981c-11df-b218-00144feab49a.html

VINCE CABLE SEEKS TO BOOST BANK LENDING

Business Secretary Vince Cable is set to outline options to
increase the flow of lending to small companies, including a
warning to banks to sign lending agreements to increase credit
flows.
http://www.ft.com/cms/s/0/e2855550-9823-11df-b218-00144feab49a.html

UNITE TO ENDORSE ED MILIBAND FOR LABOUR LEADER

Britain’s biggest union, Unite, is expected to recommend to
its 1 million political levy-paying members to support Ed
Miliband’s Labour leadership bid.
http://www.ft.com/cms/s/0/ec4b5244-97f4-11df-b218-00144feab49a.html

Stock Research

(Summary compiled by Reuters)

PRESS DIGEST – Financial Times – July 26