Europe Morning Headlines: US deficit falls faster than expected, Stocks power ...

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/8P1R88/LSVBYW/U37QNW/JI67RT/   Europe morning headlines Wednesday May 15 2013 How useful are FT email briefings to you and what can we do to improve them? Take our short survey Financial Times - Europe homepage   US deficit falls faster than expected The brighter US fiscal outlook is the result of a combination of increased tax revenues, due partly to the economic recovery, and deep automatic spending cuts http://link.ft.com/r/8P1R88/7Z92J5/PRAK1O/FKM20S/B4LN7R/YT/h?a1=2013&a2=5&a3=15   Stocks power to fresh highs US and European equities marched to fresh cyclical highs as uncertainty about the outlook for the US economy were put to one side http://link.ft.com/r/8P1R88/7Z92J5/PRAK1O/FKM20S/OFZ0SC/YT/h?a1=2013&a2=5&a3=15   Europe oil groups raided over price setting Probe into oil benchmarks comes in the wake of Libor manipulation scandal. BP, Statoil, Shell and Platts are among the companies being investigated http://link.ft.com/r/8P1R88/7Z92J5/PRAK1O/FKM20S/Q3MVFB/YT/h?a1=2013&a2=5&a3=15   JPMorgan investors take heat off Dimon People familiar with early voting patterns say investor proposal to strip chief of role as chairman is on track to gather less than 50% of vote http://link.ft.com/r/8P1R88/7Z92J5/PRAK1O/FKM20S/ULX7PT/YT/h?a1=2013&a2=5&a3=15   China's corporate debt market set to challenge US Standard & Poor's report says that in terms of outstanding non-financial debt the US will slip into second place in 2014-15 http://link.ft.com/r/8P1R88/7Z92J5/PRAK1O/FKM20S/SU4ANR/YT/h?a1=2013&a2=5&a3=15   Markets   Japan shares hit five-and-a-half year high Yen weakness boosts exporters' earnings outlook, but Sony leads rally after shareholder Daniel Loeb proposed the company float up to 20 per cent of its entertainment business http://link.ft.com/r/8P1R88/7Z92J5/PRAK1O/FKM20S/52FQ05/YT/h?a1=2013&a2=5&a3=15   Wealth funds charge into property assets Insurance and pension investors focus on perceived havens – especially London – with Norges Bank Investment Management joining in http://link.ft.com/r/8P1R88/7Z92J5/PRAK1O/FKM20S/3CJI6R/YT/h?a1=2013&a2=5&a3=15   Close ratings relationships under fire SEC roundtable on post-crisis reform told that regulators should break up 'clubby relationships' between agencies and ABS issuers http://link.ft.com/r/8P1R88/7Z92J5/PRAK1O/FKM20S/9MURAO/YT/h?a1=2013&a2=5&a3=15   Hedge funds target new sources Traditional asset managers look for high-margin products as a response to competition from ETFs, while hedgies seek new sources of capital http://link.ft.com/r/8P1R88/7Z92J5/PRAK1O/FKM20S/YGIWT2/YT/h?a1=2013&a2=5&a3=15   Banks lead Wall Street to record highs Citigroup shares touch their highest level in 12 months while revenues from JPMorgan Chase's trading and markets division are 10-15 per cent higher http://link.ft.com/r/8P1R88/7Z92J5/PRAK1O/FKM20S/HI6TKD/YT/h?a1=2013&a2=5&a3=15   World News - latest world news headlines - FT.com   Russia arrests alleged CIA recruiter Russia's security service says US diplomat in a wig was captured trying to recruit an agent, detained overnight and handed over to embassy officials http://link.ft.com/r/8P1R88/7Z92J5/PRAK1O/FKM20S/DXHP5C/YT/h?a1=2013&a2=5&a3=15   Obama hits out at 'inexcusable' IRS actions FBI opens a criminal investigation into conduct of the IRS staff, as controversies threaten to overwhelm Obama administration's policy agenda http://link.ft.com/r/8P1R88/7Z92J5/PRAK1O/FKM20S/3CJIO7/YT/h?a1=2013&a2=5&a3=15   Europe's sea levels could rise by a metre The findings of a four-year study shed new light on the effects of continental ice loss and on how different parts of the world would be affected http://link.ft.com/r/8P1R88/7Z92J5/PRAK1O/FKM20S/4VREOK/YT/h?a1=2013&a2=5&a3=15   OECD warns of rising inequality Poverty and inequality in developed countries is set to increase as governments focus on cutting debt and borrowing, the Paris-based group says http://link.ft.com/r/8P1R88/7Z92J5/PRAK1O/FKM20S/CWT3MD/YT/h?a1=2013&a2=5&a3=15   Europe News - latest Europe news headlines - FT.com   EU budget rise leaves UK with €1bn bill The budget rise could prove particularly painful for the UK at a time when the PM is fending off calls from within his own government to leave the bloc http://link.ft.com/r/8P1R88/7Z92J5/PRAK1O/FKM20S/WHD51Q/YT/h?a1=2013&a2=5&a3=15   Tories warned on damage by euro rebels David Mowat, chair of the 40 Group of Tories in the most marginal seats, says continued speculation over Britain's future in Europe was 'damaging' http://link.ft.com/r/8P1R88/7Z92J5/PRAK1O/FKM20S/4VREOU/YT/h?a1=2013&a2=5&a3=15   Fitch upgrades Greece by one notch Rating agency acknowledges progress towards eliminating its budget and current account deficits and signs of an economic stabilisation http://link.ft.com/r/8P1R88/7Z92J5/PRAK1O/FKM20S/4VREOS/YT/h?a1=2013&a2=5&a3=15   N Ireland boost as US company hires 650 US insurance company AllState Corporation is creating 650 jobs at its technology division in Northern Ireland, providing a welcome boost to employment in the region http://link.ft.com/r/8P1R88/7Z92J5/PRAK1O/FKM20S/RP52FW/YT/h?a1=2013&a2=5&a3=15   UK could reshape EU if it would only try The country's political leaders need to show leadership and emphasise that they want Britain to stay in the EU, Charles Grant says http://link.ft.com/r/8P1R88/7Z92J5/PRAK1O/FKM20S/9MURZZ/YT/h?a1=2013&a2=5&a3=15   European companies   Court rules against Google on search feature Federal Court of Justice said the rights of an unnamed founder of an internet nutritional supplement and cosmetics company were infringed upon http://link.ft.com/r/8P1R88/7Z92J5/PRAK1O/FKM20S/52FQ0R/YT/h?a1=2013&a2=5&a3=15   Tata writedown sparks talk of UK sell-off The $1.6bn impairment to the value of the Indian company's European business casts further doubt on the troubled British steel industry's future http://link.ft.com/r/8P1R88/7Z92J5/PRAK1O/FKM20S/Q3MVFU/YT/h?a1=2013&a2=5&a3=15   Tools Your account    Portfolio Email Briefings    Price alerts Keyword alerts    RSS feeds Subscribe to FT.com     © THE FINANCIAL TIMES LTD 2013 ABOUT THIS EMAIL You have received this email because you have signed up from the NBE preference page. 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