PRESS DIGEST - Financial Times - June 29

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Headlines

BOSTOCK POISED TO LEAVE M&S -

LIBOR FIRESTORM ENGULFS DIAMOND -

SPLIT NOT FOR FAMILY OR SCANDAL, SAYS MURDOCH -

IRAN DISGUISES TANKERS IN SANCTIONS GAME -

ITALY'S DEMANDS HOLD UP GROWTH PACKAGE -

JP MORGAN TO ANNOUNCE $5 BILLION 'WHALE' LOSS -

UK RECOVERY PROVES SLOW AND LONG -

VIVENDI PARTS COMPANY WITH CEO -

Overview

BOSTOCK POISED TO LEAVE M&S

Kate Bostock, the head of all of Marks and Spencer's non-food business, including clothing, is poised to leave the high street retailer.

LIBOR FIRESTORM ENGULFS DIAMOND

Bob Diamond, chief executive of Barclays, was engulfed in a political firestorm on Thursday following revelations of his bank's attempts to rig market interest rates for financial gain, sending shares in Britain's biggest bank down almost 16 percent.

SPLIT NOT FOR FAMILY OR SCANDAL, SAYS MURDOCH

Rupert Murdoch's decision to split the media empire he has led for almost 60 years has nothing to do with a desire to hand it to his children or the UK phone hacking scandal, News Corp's 81-year-old chairman and chief executive insisted on Thursday.

IRAN DISGUISES TANKERS IN SANCTIONS GAME

Over the past month, the bulk of Iran's fleet of oil supertankers suddenly disappeared off the map.

ITALY'S DEMANDS HOLD UP GROWTH PACKAGE

Italy has held up a 120 billion euro ($149.12 billion)package of measures to enhance economic growth and create jobs that was to be the one concrete achievement of the EU summit, refusing to give the green light until Germany supported short-term measures to provide relief from the debt crisis.

JP MORGAN TO ANNOUNCE $5 BILLION 'WHALE' LOSS

JPMorgan Chase is expected to announce losses of about $5 billion related to trades by the so-called London whale at its second-quarter earnings presentation in two weeks.

UK RECOVERY PROVES SLOW AND LONG

Britain's 2008-09 recession, the worst of the postwar era, was not as deep as had been believed, but recovery since then has been slower and more prolonged, new data show.

VIVENDI PARTS COMPANY WITH CEO

Jean-Bernard Levy was ousted as chief executive of Vivendi on Thursday, opening the door to a potential break-up of the French media and telecoms group.

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