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Tue, 8th Nov 2011 02:58

Financial Times

UK MPS DEMAND 'RADICAL OVERHAUL' OF BANK

The Bank of England needs a 'radical overhaul' of its

accountability and governance, clipping the wings of its

governor, a UK parliamentary committee demanded in a report

published on Tuesday. http://www.ft.com/cms/s/0/99658222-0970-11e1-a2bb-00144feabdc0.html#axzz1d4VEdlCv



COUTTS TO BE FINED OVER AIG PRODUCT SALE

The UK's financial watchdog will fine Coutts & Co, the

private banking arm of the Royal Bank of Scotland, about

6 million pounds ($9.6 million) for the way it sold savings

products linked to failed U.S. insurer AIG. http://www.ft.com/cms/s/0/58c73950-0960-11e1-a2bb-00144feabdc0.html#axzz1d4VEdlCv



MUSIC STAR BOWIE LOOKS TO EMI EXIT

David Bowie is poised to walk away from EMI, the troubled UK

music group in the middle of an auction, after a 15-year

relationship in which the label held the rights to the bulk of

his back catalogue including classic albums Ziggy Stardust and

Space Oddity. http://www.ft.com/cms/s/0/49cd6a7a-095e-11e1-a2bb-00144feabdc0.html#axzz1d4VEdlCv



SEC TO PROPOSE MONEY FUND REFORMS

The U.S. Securities and Exchange Commission will soon

propose sweeping reforms of money market funds that could

include capital standards and an end to practices that encourage

investors to believe they will never lose money. http://www.ft.com/cms/s/0/bee8b3f4-0973-11e1-a2bb-00144feabdc0.html#axzz1d4VEdlCv



BEST BUY AND CARPHONE TO SHUT STORES

Best Buy and Carphone Warehouse have pulled

the plug on their lossmaking chain of 'big box' electrical

retail stores in the UK, and formed a new emerging markets joint

venture that plans to open mobile phone stores in China next

year. http://www.ft.com/cms/s/0/6fa4acfc-0924-11e1-8e86-00144feabdc0.html#axzz1d4VEdlCv





GROUPON CHINA IN REFUND PLEDGE OVER FAKES

Groupon's Chinese daily deals website has promised

to refund hundreds of customers after Tissot-branded watches

sold in a deal last month turned out to be counterfeit. http://www.ft.com/cms/s/0/fe9b0d36-0959-11e1-a20c-00144feabdc0.html#axzz1d4VEdlCv



ALLIANZ SAYS UK CLAIM SCAMS HAVE DOUBLED

Allianz has detected a doubling in attempted fraud

in the UK since the recession, according to figures from

Europe's biggest insurer by market capitalisation that suggest

corporate as well as personal insurance swindles are on the

rise. http://www.ft.com/cms/s/0/3e62e82c-0729-11e1-8ccb-00144feabdc0.html#axzz1d4VEdlCv



UK BIG BANKS HEAD LIST OF HIGH COURT LITIGANTS

The UK's four largest banks represented almost half of all

litigation involving FTSE 100 companies listed in the High Court

over the past year, according to new research. http://www.ft.com/cms/s/0/a32d3a08-0960-11e1-a20c-00144feabdc0.html#axzz1d4VEdlCv



GOOGLE NETWORK OPEN TO BUSINESS USERS

Google has opened the doors to the first business

users on its Google+ social network, taking an important step in

its battle with Facebook to bring a stronger social dimension to

its dominant online advertising business. http://www.ft.com/cms/s/0/31fe4418-0969-11e1-a2bb-00144feabdc0.html#axzz1d4VEdlCv

($1 = 0.605 British Pounds)



($1 = 0.624 British Pounds)



(Reporting by Stephen Mangan)

Keywords: PRESS DIGEST FINANCIAL TIMES NOV 8

(stephen.mangan@thomsonreuters.com)(+44)(0)(207 542 7931)

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