PRESS DIGEST- Financial Times - July 10

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

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Headlines

AbbVie retraction shows panel has teeth

(on.ft.com/1r99c1T)

Citi to pay $7 bln to resolve U.S. probe

(on.ft.com/1rU46Ju)

Lufthansa considers launching low-cost long-haul service

(on.ft.com/1qKUlLN)

European regulators fine Servier of France

(on.ft.com/1jqRFT7)

UK's Financial Conduct Authority sets sights on high-frequency traders

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(on.ft.com/VLE8L3)

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Aldi and Lidl lead charge of discount supermarkets

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(on.ft.com/1rU3l2Z)

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Peer-to-peer lender wins landmark rating

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(on.ft.com/1oCSLIL)

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Overview

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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.

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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.

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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.

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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.

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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.

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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.

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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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