Reuters
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PRESS DIGEST - Financial Times - July 4
Wed, Jul 03 19:45 PM EDT

July 4 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

Senior London banker arrested in tax fraud probe

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Drive to curb fund managers' bonuses blocked by MEPs

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Lloyd's of London chief resigns

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Rupert Murdoch dismisses hacking as 'next to nothing'

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Co-op to probe failings at bank

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Dell directors ask founder to increase buyout offer

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Interviews start for top job at RBS

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Overview

A 63-year-old senior London banker suspected of tax fraud related to a personal tax return was arrested on Wednesday by HM Revenue & Customs.

The European Parliament narrowly voted against extending the European Union cap on bonuses beyond the banking sector to retail fund managers' pay.

Richard Ward, the chief executive of insurance market Lloyd's of London, is set to step down from the role at the end of the year.

Rupert Murdoch has brushed aside investigations into phone hacking as the "biggest inquiry ever over next to nothing," according to recordings of an address to Sun journalists broadcast on Channel 4 news.

The Co-operative Group is set to appoint a senior figure from business or legal circles in the coming days to head an investigation into the mistakes that led to a 1.5 billion pound capital shortfall at its banking arm.

A special board committee overseeing PC maker Dell Inc's planned $24.4 billion buyout has asked founder Michael Dell to improve his offer.

Royal Bank of Scotland Chairman Philip Hampton has drawn up a shortlist of four or five names and has kicked off the process of interviewing candidates to replace Stephen Hester as the bank's Chief Executive.


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