PRESS DIGEST- Financial Times - July 10
The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.
_0">Headlines
AbbVie retraction shows panel has teeth
Citi to pay $7 bln to resolve U.S. probe
Lufthansa considers launching low-cost long-haul service
European regulators fine Servier of France
UK's Financial Conduct Authority sets sights on high-frequency traders
_0"> _1"> _2">Aldi and Lidl lead charge of discount supermarkets
_3"> _4"> _5">Peer-to-peer lender wins landmark rating
_6"> _7"> _8">Overview
_9"> _10">AbbVie Chief Executive Richard Gonzalez was on Wednesday forced to retract comments made by him while discussing shareholder support for the U.S. drugmaker' s 30 billion pound ($51.1 billion) bid for Shire after being caught out by British takeover rules.
_11"> _12">Citigroup Inc is close to shelling out more than $7 billion to resolve a long-running investigation by the U.S. government into its sale of mortgage-backed securities, according to people familiar with the matter.
_13"> _14">Germany's Lufthansa may launch a no-frills long-haul airline as part of wider plans by the company to stave off competition from low-cost and Middle Eastern carriers.
_15"> _0">European Union antitrust regulators fined have fined six drugmakers including France's Servier a whopping 428 million euros ($583.8 million) for blocking the entry of cheaper generic competition to an expensive branded drug.
_1"> _2">Britain's financial watchdog is launching a review of competition in the wholesale securities market as it eyes the practices used by high-frequency traders to get ahead on other investors.
_3">Germany's Aldi is the global leader among discount food retailers that offer limited assortment grocery. Schwarz, which owns Lidl, took second place, according to a study by research firm Planet Retail.
_4"> _5">A cross-selection of peer-to-peer (P2P) loans has gotten a credit rating from Standard & Poor's, marking the first time that a major credit rating agency has agreed to formally evaluate a securitisation from the fast-growing P2P sector. ($1 = 0.5877 British Pounds) ($1 = 0.7331 Euros) (Compiled by Esha Vaish; Editing by Lisa Shumaker)
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