In today's FT: Cost of HS2 undercuts spending review, Osborne’s win...

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/19JYUU/FD6ARU/1JR63V/8ANBW9/   In today's FT Thursday June 27 2013 UK Homepage   Cost of HS2 undercuts spending review Chancellor seeks to lay framework for 2015 election, setting out £11.5bn of cuts – a downpayment on austerity stretching well into next parliament http://link.ft.com/r/19JYUU/YGK6T8/9Z3GXS/IIKZGI/MJZXG6/PJ/h?a1=2013&a2=6&a3=26   Osborne's winners and losers Lone parent benefit recipients will have to 'prepare for work' once their youngest child turns three, but intelligence and aid budgets protected http://link.ft.com/r/19JYUU/YGK6T8/9Z3GXS/IIKZGI/NR7K80/PJ/h?a1=2013&a2=6&a3=26   Osborne keeps on with plan for pain More is needed to foster growth in the British economy. The government has been too timid in reversing the excessive cuts in public investment it inherited http://link.ft.com/r/19JYUU/YGK6T8/9Z3GXS/IIKZGI/OFMD66/PJ/h?a1=2013&a2=6&a3=26   Financial Times - US homepage   Twin court victories for gay Americans Historic ruling compels federal government to recognise gay and lesbian couples who have legally married in a state that sanctions same-sex wedlock http://link.ft.com/r/19JYUU/YGK6T8/9Z3GXS/IIKZGI/PN5YO7/PJ/h?a1=2013&a2=6&a3=26   EU reaches deal on failed banks Agreement puts in place another piece of a eurozone banking union that could eventually share the costs of future bank bailouts http://link.ft.com/r/19JYUU/YGK6T8/9Z3GXS/IIKZGI/523HIP/PJ/h?a1=2013&a2=6&a3=26   Buy America laws raise hurdles in European talks 'What we are trying to establish in negotiations is free trade . . . that means not discriminating between European goods and American counterparts' http://link.ft.com/r/19JYUU/YGK6T8/9Z3GXS/IIKZGI/A5TOJ5/PJ/h?a1=2013&a2=6&a3=26   Financial Times - Europe homepage   Rome launches probe into derivatives Inquiry into reports that state faced potential losses of billions of euros on contracts that were restructured during the eurozone debt crisis http://link.ft.com/r/19JYUU/YGK6T8/9Z3GXS/IIKZGI/20R1KV/PJ/h?a1=2013&a2=6&a3=26   Gold off sharply as investors rush for exit Yellow metal on track for biggest quarterly decline since collapse of Bretton Woods system in 1971 http://link.ft.com/r/19JYUU/YGK6T8/9Z3GXS/IIKZGI/WHIR7I/PJ/h?a1=2013&a2=6&a3=26   Repsol rejects settlement over YPF Board rebuffs deal with Argentina brokered by Pemex to form new venture in meeting amid deteriorating relations with largest shareholders http://link.ft.com/r/19JYUU/YGK6T8/9Z3GXS/IIKZGI/Q34I0S/PJ/h?a1=2013&a2=6&a3=26   Financial Times - Asia homepage   Rudd forms new Australia government Kevin Rudd has been sworn in for a second spell as Australian prime minister hours after the ousting of his predecessor Julia Gillard and just weeks before national elections at which the ruling Labor party is expected to suffer heavy losses http://link.ft.com/r/19JYUU/YGK6T8/9Z3GXS/IIKZGI/HI071L/PJ/h?a1=2013&a2=6&a3=26   China hints at new bank regime The promise of a backstop helped restore calm to financial markets but the central bank hints at new rules in the Chinese banking industry http://link.ft.com/r/19JYUU/YGK6T8/9Z3GXS/IIKZGI/Q34I0Q/PJ/h?a1=2013&a2=6&a3=26   Walmart hit by departure of its India head Sudden departure of Raj Jain prompts a leadership change and marks the latest setback for the US retailer's plans for aggressive expansion in India http://link.ft.com/r/19JYUU/YGK6T8/9Z3GXS/IIKZGI/4VNTY7/PJ/h?a1=2013&a2=6&a3=26   World News   Scientists extract world's most ancient DNA Development demonstrates growing ability of scientists to extract ancient genetic fragments from fossils and to stitch them together http://link.ft.com/r/19JYUU/YGK6T8/9Z3GXS/IIKZGI/DXGVNC/PJ/h?a1=2013&a2=6&a3=26   Brazil's leaders move to mollify protesters The rush by Congress to appease public opinion follows a proposal by President Dilma Rousseff to hold a plebiscite on political reform http://link.ft.com/r/19JYUU/YGK6T8/9Z3GXS/IIKZGI/WHIR79/PJ/h?a1=2013&a2=6&a3=26   Merkel lobbies to shield German carmakers Chancellor seeks delay to EU decision on rules that will limit car emissions as she requests the matter be dropped from Thursday's meeting in Brussels http://link.ft.com/r/19JYUU/YGK6T8/9Z3GXS/IIKZGI/HI071G/PJ/h?a1=2013&a2=6&a3=26   Albania premier accepts election defeat Observers voiced relief at willingness to accept outcome after three-day delay prompted fears militants would protest against Socialist victory http://link.ft.com/r/19JYUU/YGK6T8/9Z3GXS/IIKZGI/RPWECE/PJ/h?a1=2013&a2=6&a3=26   More repossession powers for Irish banks Central Bank of Ireland set to unveil plan to cut 12-month moratorium on starting repossession to three months as slow resolution threatens recovery http://link.ft.com/r/19JYUU/YGK6T8/9Z3GXS/IIKZGI/PN5YO8/PJ/h?a1=2013&a2=6&a3=26   Companies news and analysis - FT.com   BP accused of intimidating spill claimants Escalating war of words between company and private sector plaintiffs seeking compensation over the spill threatens to derail settlement http://link.ft.com/r/19JYUU/YGK6T8/9Z3GXS/IIKZGI/XBEFMI/PJ/h?a1=2013&a2=6&a3=26   Microsoft touts rapid Windows 8 updates Microsoft promises further rapid improvements to Windows 8 but analysts question whether it is enough to make up ground lost to Apple's and Google http://link.ft.com/r/19JYUU/YGK6T8/9Z3GXS/IIKZGI/WHIR7K/PJ/h?a1=2013&a2=6&a3=26   UBS French unit hit with €10m fine Banking regulator penalises the Swiss lender for 'laxity' in efforts to curb risk of money laundering and cross-border fiscal fraud http://link.ft.com/r/19JYUU/YGK6T8/9Z3GXS/IIKZGI/9ML6S2/PJ/h?a1=2013&a2=6&a3=26   'King of oil' who became a target for US Dealings with regimes outlawed by the US – from Iran to Cuba – fed his fortune, but they irreversibly tainted his reputation http://link.ft.com/r/19JYUU/YGK6T8/9Z3GXS/IIKZGI/JQV5TL/PJ/h?a1=2013&a2=6&a3=26   Saudi prince 'refused' to pay Gaddafi jet sale fee Daad Sharab, who arranged the $120m sale of the Airbus aircraft to the former Libyan leader, claims prince 'simply refused' to pay commission http://link.ft.com/r/19JYUU/YGK6T8/9Z3GXS/IIKZGI/20R1KE/PJ/h?a1=2013&a2=6&a3=26   Markets   Equities and government bonds advance Buyers return to equity and bond markets after central bankers move to calm policy fears, but concerns about Chinese liquidity remain http://link.ft.com/r/19JYUU/YGK6T8/9Z3GXS/IIKZGI/RPWECU/PJ/h?a1=2013&a2=6&a3=26   Commodities traders call end of the supercycle Most commodity prices have fallen dramatically. Since their respective peaks in 2011, copper prices are down 35%, iron ore prices 40%, and gold 36% http://link.ft.com/r/19JYUU/YGK6T8/9Z3GXS/IIKZGI/XBEFMN/PJ/h?a1=2013&a2=6&a3=26   Bond rout threatens to hit bank funding Banks must navigate an increase in their funding costs from higher market interest rates on one side and regulators' demands on the other http://link.ft.com/r/19JYUU/YGK6T8/9Z3GXS/IIKZGI/K924HR/PJ/h?a1=2013&a2=6&a3=26   CME among winners of market turbulence The global derivatives exchange is one of a select number of companies enjoying haven status, with its shares jumping 19% since May 21 http://link.ft.com/r/19JYUU/YGK6T8/9Z3GXS/IIKZGI/3CFLD5/PJ/h?a1=2013&a2=6&a3=26   Crude oil resists wider commodities slide Brent has settled above $100 every day since May 2 and is marginally in positive territory for June in contrast to the sell-off in other asset classes http://link.ft.com/r/19JYUU/YGK6T8/9Z3GXS/IIKZGI/PN5YOK/PJ/h?a1=2013&a2=6&a3=26   Financial Times - Comment   The City's protection rules go too far London's proposals to prevent ENRC-style scandals are undemocratic and assume the worst of all people who own large stakes in companies http://link.ft.com/r/19JYUU/YGK6T8/9Z3GXS/IIKZGI/1OJUXA/PJ/h?a1=2013&a2=6&a3=26   Osborne sets a trap for Labour on welfare Sticking to the government's benefits cap will torture the opposition – but not doing so means a dangerous departure from the coalition's baseline http://link.ft.com/r/19JYUU/YGK6T8/9Z3GXS/IIKZGI/T1K920/PJ/h?a1=2013&a2=6&a3=26   Cruel comedy at Irish taxpayers' expense People in Ireland don't riot in their anger. They take bad news in grim silence, but as the truth behind the banking crisis may change this http://link.ft.com/r/19JYUU/YGK6T8/9Z3GXS/IIKZGI/SUXQVP/PJ/h?a1=2013&a2=6&a3=26   Singh can still be remembered as great As he approaches his final year in office, the Indian prime minister should show some spine and not simply bank on history's forgiveness http://link.ft.com/r/19JYUU/YGK6T8/9Z3GXS/IIKZGI/WHIR7L/PJ/h?a1=2013&a2=6&a3=26   Snooping concerns are not paranoia Agencies that have abused their power to conceal their own failings have a long way to go to regain the trust they are now demanding http://link.ft.com/r/19JYUU/YGK6T8/9Z3GXS/IIKZGI/FD6APM/PJ/h?a1=2013&a2=6&a3=26   Financial Times - Management   Slogans made into protest songs Many of those protesting on Brazilian streets don't have any connection to political parties, so they borrow messages from advertising http://link.ft.com/r/19JYUU/YGK6T8/9Z3GXS/IIKZGI/6APBEW/PJ/h?a1=2013&a2=6&a3=26   Does it matter if students can't write? Whether poor writing is new or old, it is odd that it persists when parents are vying to provide their children with any possible advantage http://link.ft.com/r/19JYUU/YGK6T8/9Z3GXS/IIKZGI/GYOZUF/PJ/h?a1=2013&a2=6&a3=26   Design space: Growbag Waterer The garden equipment producer has devised a simple irrigation system to ensure that plants are watered while householders are away http://link.ft.com/r/19JYUU/YGK6T8/9Z3GXS/IIKZGI/6APBE1/PJ/h?a1=2013&a2=6&a3=26   Story of a poster boy's spectacular crash 'The Billionaire's Apprentice' by Anita Raghavan tells the story of the rise of the Indian-American elite in the US, exemplified by Rajat Gupta http://link.ft.com/r/19JYUU/YGK6T8/9Z3GXS/IIKZGI/A5TOJZ/PJ/h?a1=2013&a2=6&a3=26   Special Reports - FT.com Central & eastern Europe: Automotive and Manufacturing The Connected Business Innovation in Transport Video Lex Carving up Israel Corp Israel Corp, the conglomerate controlled by billionaire Idan Ofer, has announced plans to split into two companies. Lex’s Julia Grindell and Vincent Boland consider the motives behind the break-up and whether the group can narrow its valuation gap. 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. FT.com Change Briefings  •   Unsubscribe  •   Change Email Address  •   Forward this email to a friend  •   Privacy Policy  •   About Us  •   Help This email was sent by or on behalf of a company owned by Pearson plc, registered office at 80 Strand, London WC2R 0RL. Registered in England and Wales with company number 53723..