Reuters
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PRESS DIGEST - Financial Times - July 3
Tue, Jul 02 20:21 PM EDT

July 3 (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

Ex-Bank deputy appointed to scrutinise RBS lending

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China set to miss targets for shale gas field development

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CNPC to take $5 bln stake in Kashagan oilfield

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Rosneft gains control of Itera

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Mandelson fears HS2 wil be expensive mistake

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Ex-FBI head to probe BP payout claims

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Overview

Royal Bank of Scotland has appointed former Bank of England deputy governor Andrew Large to conduct a review of its lending to small businesses.

China will most likely miss its 2015 target for shale gas production due to slower-than-expected development of initial shale gas fields.

State-owned oil firm China National Petroleum Co will buy a stake in Kazakhstan's giant Kashagan oilfield in a deal worth $5 billion.

Russia's top oil producer Rosneft has bought the 49 percent of gas producer Itera it did not already own in a deal worth $2.9 billion.

Former business secretary Peter Mandelson has urged Westminster colleagues to reconsider High Speed 2, the new 50 billion pound high speed railway connecting London to the north of England.

Former Federal Bureau of Investigation director Louis Freeh has been appointed to investigate allegations of misconduct at the office administering compensation claims against BP for the Deepwater Horizon oilspill.


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