In today's FT: Osborne orders £2.5bn in extra cuts, Cyprus parliame...

If this email is not displayed correctly, please click on the following link or open your browser and paste the link into the address field: http://view.ed4.net/v/G8OTZZ/06YC8N/3FN0UA/JI67RT/   In today's FT Wednesday March 20 2013 Financial Times - UK Homepage   Osborne orders £2.5bn in extra cuts Scale of borrowing crisis set to dwarf any good news. Ministers told to find savings over next two years to fund housing and other capital projects http://link.ft.com/r/G8OTZZ/YGANO6/PRAK1O/PFY904/GYHQI6/4O/h?a1=2013&a2=3&a3=19   Cyprus parliament rejects bank levy Nicosia seeks aid from Moscow in an effort to secure economic assistance as the island's finance minister has his resignation rejected by the president http://link.ft.com/r/G8OTZZ/YGANO6/PRAK1O/PFY904/HIB9QP/4O/h?a1=2013&a2=3&a3=19   French budget minister resigns Jérôme Cahuzac steps down as formal investigation into allegations that he had an undeclared Swiss bank account up to 2010 is launched http://link.ft.com/r/G8OTZZ/YGANO6/PRAK1O/PFY904/4V9ZAC/4O/h?a1=2013&a2=3&a3=19   Financial Times - US homepage   Obama faces battle to woo Israeli public US president will try to win trust of ordinary Israelis on his first visit to the Jewish state, but there is little enthusiasm for him on the ground http://link.ft.com/r/G8OTZZ/YGANO6/PRAK1O/PFY904/3CQAVP/4O/h?a1=2013&a2=3&a3=19   Stocks fall as Cyprus uncertainty mounts Uncertainty over the situation in Cyprus made for a cautious session as the country's parliament rejected a planned tax on bank deposits http://link.ft.com/r/G8OTZZ/YGANO6/PRAK1O/PFY904/XBX6GD/4O/h?a1=2013&a2=3&a3=19   Hacked PCs falsify billions of ad clicks Botnet traffic defrauding advertisers of $6m a month, according to a report that highlights the increasing complexities and opacity of the industry http://link.ft.com/r/G8OTZZ/YGANO6/PRAK1O/PFY904/JQ8J9X/4O/h?a1=2013&a2=3&a3=19   Financial Times - Europe homepage   More bond investors bet on US rate rise More money has flowed into leveraged loan mutual funds in the first 10 weeks of 2013 than all of 2012 in a ploy to utilise floating interest rates http://link.ft.com/r/G8OTZZ/YGANO6/PRAK1O/PFY904/HIB9E0/4O/h?a1=2013&a2=3&a3=19   Freddie sues over 'substantial' Libor loss Mortgage group claims it suffered losses from swap transactions indexed to the benchmark rate as well as on billions of dollars of mortgage securities http://link.ft.com/r/G8OTZZ/YGANO6/PRAK1O/PFY904/MJ0NRO/4O/h?a1=2013&a2=3&a3=19   French find 'illegal' British lamb meat French vets investigating horsemeat find lamb meat from Britain allegedly processed using method made illegal because of risk of mad cow disease http://link.ft.com/r/G8OTZZ/YGANO6/PRAK1O/PFY904/87F45D/4O/h?a1=2013&a2=3&a3=19   Financial Times - Asia homepage   Liberty Media in $2.6bn cable 'pipes' bet Confirming plans to buy stake in Charter Communications, Liberty Media chief executive told the FT: 'Pipe is only getting more valuable' http://link.ft.com/r/G8OTZZ/YGANO6/PRAK1O/PFY904/JQ8JSJ/4O/h?a1=2013&a2=3&a3=19   Yoga pants reveal Lululemon shortcomings Announcement leaves the exercise brand with a pants shortage, which it said would hurt sales, and focuses attention on its supply chain http://link.ft.com/r/G8OTZZ/YGANO6/PRAK1O/PFY904/HIB9E6/4O/h?a1=2013&a2=3&a3=19   More bond investors bet on US rate rise More money has flowed into leveraged loan mutual funds in the first 10 weeks of 2013 than all of 2012 in a ploy to utilise floating interest rates http://link.ft.com/r/G8OTZZ/YGANO6/PRAK1O/PFY904/UL5BHL/4O/h?a1=2013&a2=3&a3=19   Financial Times - World   Russian business deals on hold The island is home to billions of dollars in Russian deposits but is thought to be more important as a hub for investment and trade in Russia http://link.ft.com/r/G8OTZZ/YGANO6/PRAK1O/PFY904/FDTEY2/4O/h?a1=2013&a2=3&a3=19   UK set for bleak Budget and rising debt Osborne to admit his target to cut public debt as a percentage of gross domestic product – standing at 75% – has been pushed back http://link.ft.com/r/G8OTZZ/YGANO6/PRAK1O/PFY904/OFVPNI/4O/h?a1=2013&a2=3&a3=19   US trade chief vows to fight for farmers Demetrios Marantis tries to reassure lawmakers as Washington presses ahead with negotiations for Japan to join proposed Trans-Pacific Partnership http://link.ft.com/r/G8OTZZ/YGANO6/PRAK1O/PFY904/OFVPN9/4O/h?a1=2013&a2=3&a3=19   Shanty town celebrates papal inauguration As Pope Francis was inaugurated in Rome residents of Villa 31, a shanty town in Buenos Aires, recalled his regular visits with affection http://link.ft.com/r/G8OTZZ/YGANO6/PRAK1O/PFY904/1OIV0E/4O/h?a1=2013&a2=3&a3=19   Chemical attack reported near Aleppo In the first credible report of the use of chemical weapons in Syria's war, both the regime and rebels deny firing a Scud rocket near a northern city http://link.ft.com/r/G8OTZZ/YGANO6/PRAK1O/PFY904/SU7TL1/4O/h?a1=2013&a2=3&a3=19   Financial Times - Companies   Boots and Walgreens add to pharma empire Alliance Boots and partner Walgreens will be able to build an up to 23 per cent stake worth $2.5bn in the US pharmaceutical wholesaler http://link.ft.com/r/G8OTZZ/YGANO6/PRAK1O/PFY904/EKLIDP/4O/h?a1=2013&a2=3&a3=19   BMW warns of stagnating profits German carmaker issues a typically cautious assessment of its challenges amid sales pressure in Europe and increased investment costs http://link.ft.com/r/G8OTZZ/YGANO6/PRAK1O/PFY904/1OIV0F/4O/h?a1=2013&a2=3&a3=19   European car sales decline continues A fresh fall of 10% in February adds to overcapacity woes, putting huge pressure on mass-market carmakers amid job cuts and plant closures http://link.ft.com/r/G8OTZZ/YGANO6/PRAK1O/PFY904/VT4GBC/4O/h?a1=2013&a2=3&a3=19   Peugeot chief gets taste for a bumpy ride Philippe Varin's appetite for a challenge is being tested at the French carmaker which is trying to make painful job cuts amid dismal car sales http://link.ft.com/r/G8OTZZ/YGANO6/PRAK1O/PFY904/7ZR5MW/4O/h?a1=2013&a2=3&a3=19   Leading banks make big strides on Basel Capital shortfall almost halves as the amount required to meet tougher new requirements dips below 50% of the reported profits of the lenders http://link.ft.com/r/G8OTZZ/YGANO6/PRAK1O/PFY904/DX1YDQ/4O/h?a1=2013&a2=3&a3=19   Financial Times - Financial markets news   Calpers turns back to commodities Despite recent moves to pull money from the asset class, the US public pension fund endorses commodities as a safeguard against inflation http://link.ft.com/r/G8OTZZ/YGANO6/PRAK1O/PFY904/B4PKWR/4O/h?a1=2013&a2=3&a3=19   Cyprus reveals chinks in ECB armour European sovereign bond markets have largely shrugged off the threat to financial stability but it is a reminder of the limits of central banks' powers http://link.ft.com/r/G8OTZZ/YGANO6/PRAK1O/PFY904/MJ0NF9/4O/h?a1=2013&a2=3&a3=19   China widens door to foreign investors Beijing move levels the playing field for overseas and Chinese asset managers as well as making the currency more internationalised http://link.ft.com/r/G8OTZZ/YGANO6/PRAK1O/PFY904/1OIVCG/4O/h?a1=2013&a2=3&a3=19   Bulls expect more dollar gains Almost 75% of fund managers surveyed expect the dollar to appreciate over the next year as investment banks bet on the greenback's strength http://link.ft.com/r/G8OTZZ/YGANO6/PRAK1O/PFY904/LSOFRN/4O/h?a1=2013&a2=3&a3=19   CFTC eyes derivatives reform compromise Bart Chilton, a Democratic member of the CFTC, attempts to broker a deal that would finalise planned rules for the $639tn derivatives market http://link.ft.com/r/G8OTZZ/YGANO6/PRAK1O/PFY904/VT4GH9/4O/h?a1=2013&a2=3&a3=19   Financial Times - Comment   Big trouble from little Cyprus The calamity that has struck the island is deeply worrying because of the far bigger effects it can have elsewhere, writes Martin Wolf http://link.ft.com/r/G8OTZZ/YGANO6/PRAK1O/PFY904/7ZR570/4O/h?a1=2013&a2=3&a3=19   Moscow can protect Nicosia from bullies Europe is willing to give Nicosia €10bn. Moscow should loan the rest, secured with rights to newly found gas reserves, writes Dimitry Afanasiev http://link.ft.com/r/G8OTZZ/YGANO6/PRAK1O/PFY904/A53XWW/4O/h?a1=2013&a2=3&a3=19   On the brink of a shadow drink industry The notion that even carefully considered moral legislation tends to do more harm than good is taking some time to get through, writes John Kay http://link.ft.com/r/G8OTZZ/YGANO6/PRAK1O/PFY904/FDTEYA/4O/h?a1=2013&a2=3&a3=19   Berlin is well placed to lead on Syria Germany is seen as neutral in world affairs and it should use the trust it has built up as part of a new foreign policy role, writes Ulrich Speck http://link.ft.com/r/G8OTZZ/YGANO6/PRAK1O/PFY904/9MNW49/4O/h?a1=2013&a2=3&a3=19   Labour's chance to lead fiscal policy The party will gain economic credibility by showing it is serious about reducing the burden yet open to a flexible fiscal policy, writes Nick Pearce http://link.ft.com/r/G8OTZZ/YGANO6/PRAK1O/PFY904/Z8D06S/4O/h?a1=2013&a2=3&a3=19   Financial Times - Management   Partners since childhood Three sets of siblings tell Jonathan Moules about running a business with someone with whom they grew up http://link.ft.com/r/G8OTZZ/YGANO6/PRAK1O/PFY904/52S7AB/4O/h?a1=2013&a2=3&a3=19   The joy, sadness and fear of selling up The pain of parting after relationships lasting many years is deep but can be eased by moving on to the next big thing, writes Luke Johnson http://link.ft.com/r/G8OTZZ/YGANO6/PRAK1O/PFY904/CWUDKS/4O/h?a1=2013&a2=3&a3=19   Has Google got its priorities right? News that the Reader service is closing was met with dismay by loyal users, raising questions about how to avoid destroying trust among customers http://link.ft.com/r/G8OTZZ/YGANO6/PRAK1O/PFY904/EKLIDL/4O/h?a1=2013&a2=3&a3=19   How to deal with being downgraded Passengers who are moved from business to economy class have to negotiate with the airline over compensation, whether financial or a future upgrade http://link.ft.com/r/G8OTZZ/YGANO6/PRAK1O/PFY904/87F4MJ/4O/h?a1=2013&a2=3&a3=19   Financial Times - Special Reports Risk Management: Financial Institutions The Future of Business Data The Business of Formula One Video Lex Arm after East goes Warren East, chief executive of chip designer Arm Holdings, is to retire. Lex's Stuart Kirk and Nikki Tait discuss how the new chief Simon Segars can continue the company's phenomenal growth. 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