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Latest Headlines from The FT
Wyly brothers charged over ‘undisclosed $550m’
US regulators charged Samuel and Charles Wyly, two billionaire brothers whose interests range from software to restaurants, with reaping more than $550m in undisclosed gains by trading shares in companies on whose boards they sat
Google says China ‘blockage’ miscalculation
Google said that its search and advertising services were being blocked in China for first time since its groundbreaking compromise with the Chinese government earlier this month
Fed reports paper profit on Bear and AIG bail-outs
The US public’s hope of getting repaid for the bail-outs of Bear Stearns and AIG in the financial crisis increased on Thursday after the Federal Reserve reported a paper profit for the first time on all the holdings of securities bought from the companies
Li Ka-shing bids £5.8bn for UK utility
EDF Networks has low-voltage electricity distribution networks in the east and south of England, long-term contracts with businesses such as London Underground, Heathrow and Gatwick, and the Channel Tunnel
Karzai attacks ‘shocking’ leak of files
Afghanistan’s president says named individuals could be targeted by insurgents for working with US forces
Results underline strength of Europe’s corporate recovery
Industrial companies have led the recovery after a crushing fall in earnings last year
Wylie theatens broad digital expansion
Andrew Wylie, the literary agent whose exclusive deal with Amazon.com last week stunned the publishing world, has threatened a broad expansion of his digital publishing business to include up to 2,000 titles if traditional publishers refuse to improve digital royalties.
FSA unveils tough pay and bonus code
The FSA is broadening the scope of its pay code to more than 2.500 financial services companies to comply with EU legislation that introduced some of the world’s toughest restrictions on bankers’ bonuses
US banks in rush for cheap finance
US banks are taking advantage of improving earnings and growing investor demand to raise billions of dollars in debt at low interest rates, a move that could boost the sector’s profits
Citi agrees $75m to settle SEC charges
Citigroup agreed to pay $75m to settle Securities and Exchange Commission charges that it failed to disclose to investors more than $40bn in exposure to subprime mortgages
Global stocks flat as rally runs out of steam
Global Markets Overview: Investors are turning very selective about risk, as shares decline while some currency markets embrace chancier assets
US divided on how to tackle Huawei
US government agencies charged with reviewing sensitive acquisitions are engaged in a debate over how to handle Huawei, the Chinese software and telecoms equipment-maker viewed with deep scepticism by government security experts
Illness stops Gandhi-Cameron meeting
People associated with Mr Cameron’s visit said it was suspected that she had been taken ill and was travelling
Europe set for overhaul of rules on share dealing
Push to boost transparency of regions’ securities markets includes call for a ‘consolidated tape’ for pricing data to tackle lack of transparency as part of biggest regulatory overhaul in years
Cameron needs more subtlety on subcontinent
David Cameron has led the largest official delegation to India since its independence from Britain 63 years ago. By doing so, he has tested Britain’s place in the world, and how far it has travelled since 1947
Business attacks UK cap on skilled immigrants
Tensions between the government and business have risen after it emerged many leading companies have been blocked from bringing in non-European staff
Chocolatier sees cocoa prices staying high
Barry Callebaut chief warned prices could stay at current high levels for the foreseeable future because of continued demand pressure and scarce supply
Shell chief defends deep-water drilling
Peter Voser, chief executive, says deep-water drilling has important role to play in global energy supply, as the Anglo-Dutch oil group announces a near-doubling in second-quarter profit to $4.53bn
Cameron makes free trade appeal to India
David Cameron, the UK prime minister, has appealed for New Delhi’s support to defeat forces of economic nationalism that threatened to close down the world trading system at a time of economic weakness
US jobless claims drop more than expected
New claims for unemployment insurance fell in last week, offering a glimmer of hope that firings could be abating in the stricken labour market