PRESS DIGEST – Financial Times – July 6

Financial Times

BP RULES OUT SHARE SALE

BP (BP.L: ) said it did not need to sell shares to cover the
costs of the Gulf of Mexico oil spill, amid reports it was
seeking strategic investors to fend off a takeover bid.

http://www.ft.com/cms/s/0/35e7f9d2-8866-11df-aade-00144feabdc0.html

OSBORNE’S REGULATION PLANS TO FACE SCRUTINY – TYRIE

The UK’s Treasury select committee will scrutinise finance
minister George Osborne’s plans to shake up financial regulation
to ensure they are carefully thought through, committee chairman
Andrew Tyrie said in an interview.

http://www.ft.com/cms/s/0/6ad075d0-8856-11df-aade-00144feabdc0.html

CITY TO BE ASKED TO INVEST IN WORK SCHEMES

Britain’s welfare minister will try to convince bankers on
Tuesday to fund 2 million of the long-term unemployed and those
on disability benefits through welfare to work schemes.

http://www.ft.com/cms/s/0/227fcae2-8856-11df-aade-00144feabdc0.html

OCADO AIMS AT 1.1 BILLION POUND STERLING IPO

Ocado plans to publish its prospectus on Tuesday that will
give the grocery firm an equity valuation of between 800 million
and 1.1 billion pounds.

http://www.ft.com/cms/s/0/8c2cab26-886b-11df-aade-00144feabdc0.html

BULK SHIPPING GROUPS FEAR FALL IN PROFITABILITY

Concerns about oversupply amid weak global demand are
weighing on profits of dry bulk ship owners and tankers. They
have seen rates for the largest ships fall by 50 percent since
May.

http://www.ft.com/cms/s/0/11a337ba-885e-11df-aade-00144feabdc0.html

U.S BANKS WOO WEALTHIEST CLIENTS

Top U.S banks Morgan Stanley (MS.N: ) (Read more about the money market today. ), JPMorgan Chase & Co
(JPM.N: ) and BofA Merill Lynch have stepped up their hiring and
training practices and launched new products to attract the
wealthiest clients.

http://www.ft.com/cms/s/0/d2b9cba4-885d-11df-aade-00144feabdc0.html

(Summary compiled by Reuters)

($1=7.432 Andorran Franc)

PRESS DIGEST – Financial Times – July 6