In today's FT: Global sell-off raises turbulence fears, Bernanke st...

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/LVA6WW/871R82/N7MJW3/RN7YTC/   In today's FT Friday June 21 2013 UK Homepage   Global sell-off raises turbulence fears Emerging markets among the worst hit as this year's rally is thrown firmly into reverse by the US Federal Reserve's plans to slow the pace of QE3 http://link.ft.com/r/LVA6WW/K98ZTJ/A7P8KJ/5VO98M/VTY53C/36/h?a1=2013&a2=6&a3=20   Bernanke strikes to great effect Thursday's sell-off reveals that plenty of excess was embedded in markets. Now, the risk of a bubble is reduced, while the Fed is still stimulating markets http://link.ft.com/r/LVA6WW/K98ZTJ/A7P8KJ/5VO98M/SUXZJQ/36/h?a1=2013&a2=6&a3=20   Eurozone fund empowered to back banks European Stability Mechanism can now pump cash directly into teetering banks, but only after national governments share the burden http://link.ft.com/r/LVA6WW/K98ZTJ/A7P8KJ/5VO98M/ULDMNV/36/h?a1=2013&a2=6&a3=20   Financial Times - US homepage   IMF warns eurozone over Greek aid International body threatens to suspend payments to Athens because of a shortfall that has opened up in rescue programme, say officials http://link.ft.com/r/LVA6WW/K98ZTJ/A7P8KJ/5VO98M/4VNQGP/36/h?a1=2013&a2=6&a3=20   Bond sell-off causes stress in ETF industry Emerging-markets ETFs were among the worst affected, as investors took fright that the end of monetary easing would lead to outflows from developing countries http://link.ft.com/r/LVA6WW/K98ZTJ/A7P8KJ/5VO98M/20RIB8/36/h?a1=2013&a2=6&a3=20   ADM seeks buyer for $2bn cocoa unit The decision comes as agricultural traders seek to increase their exposure to the grain trade, which is driven by China's demand for food http://link.ft.com/r/LVA6WW/K98ZTJ/A7P8KJ/5VO98M/Q3429W/36/h?a1=2013&a2=6&a3=20   Financial Times - Europe homepage   Cadbury's tax avoidance ahead of takeover In decade before takeover, Cadbury paid average of £6.4m a year on its ongoing UK operations, despite annual British turnover of more than £1bn http://link.ft.com/r/LVA6WW/K98ZTJ/A7P8KJ/5VO98M/YGQX1G/36/h?a1=2013&a2=6&a3=20   UK and Swiss banks face fresh risk tests Major UK and Swiss lenders are facing new demands to prove their soundness, after central bankers in both countries expressed concerns over their leverage http://link.ft.com/r/LVA6WW/K98ZTJ/A7P8KJ/5VO98M/ULDMNC/36/h?a1=2013&a2=6&a3=20   Germany blocks Turkey's bid to join EU Berlin opposes restarting accession talks, prompting some diplomats to fear that Ankara could break off relations with the economic bloc http://link.ft.com/r/LVA6WW/K98ZTJ/A7P8KJ/5VO98M/871R03/36/h?a1=2013&a2=6&a3=20   Financial Times - Asia homepage   Bernanke's rosier outlook to come under close scrutiny Federal Reserve watchers will want to establish whether the shift in sentiment has come too suddenly and too early http://link.ft.com/r/LVA6WW/K98ZTJ/A7P8KJ/5VO98M/9MLFVY/36/h?a1=2013&a2=6&a3=20   Fed and China worries fuel broad sell-off Bears take control as the prospect of reduced Federal Reserve asset purchases and concerns over the outlook for China's economy spark heavy losses http://link.ft.com/r/LVA6WW/K98ZTJ/A7P8KJ/5VO98M/T1K7FH/36/h?a1=2013&a2=6&a3=20   Echoes of Mao in China cash crunch China's central bank rejects calls for a liquidity injection as short-term money market rates soar. Is this down to economics or are political considerations in play? http://link.ft.com/r/LVA6WW/K98ZTJ/A7P8KJ/5VO98M/VTY5NW/36/h?a1=2013&a2=6&a3=20   World News   Obama to name FBI director Jim Comey has a commanding personal presence and a reputation as a strong leader from his time as a prosecutor in New York and deputy attorney-general http://link.ft.com/r/LVA6WW/K98ZTJ/A7P8KJ/5VO98M/GYOT5M/36/h?a1=2013&a2=6&a3=20   Brazil protests grow as discontent spreads Movement draws in other sectors of society and calls grow for general strike as discontent spreads to aspects such as corruption and poor healthcare http://link.ft.com/r/LVA6WW/K98ZTJ/A7P8KJ/5VO98M/7ZUJOP/36/h?a1=2013&a2=6&a3=20   Fifa's tense ties with Brazil on show Public mood is hostile to corruption and gap between rich and poor, and inevitably rising cost of staging big sporting events is in their sights http://link.ft.com/r/LVA6WW/K98ZTJ/A7P8KJ/5VO98M/871RCZ/36/h?a1=2013&a2=6&a3=20   Senate strikes deal for immigration reforms Under a deal, an additional 700 miles of fencing will be built along the border, while the number of border patrol agents will double to more than 40,000 http://link.ft.com/r/LVA6WW/K98ZTJ/A7P8KJ/5VO98M/NR70IE/36/h?a1=2013&a2=6&a3=20   Palestinian PM resigns after two weeks Rami Hamdallah's offer to step down points to division within the Palestinian Authority as the US attempts to get it back to peace talks with Israel http://link.ft.com/r/LVA6WW/K98ZTJ/A7P8KJ/5VO98M/JQVGKR/36/h?a1=2013&a2=6&a3=20   Companies news and analysis - FT.com   EU threatens to fine Google over privacy Google faces a fine of several million euros if it does not address within three months EU data protection regulators' privacy concerns http://link.ft.com/r/LVA6WW/K98ZTJ/A7P8KJ/5VO98M/OFMCQJ/36/h?a1=2013&a2=6&a3=20   Swiss banks warned about risk levels SNB tells UBS and Credit Suisse that their leverage ratios are 'low' and urged them to be more transparent about the level of risks they are running http://link.ft.com/r/LVA6WW/K98ZTJ/A7P8KJ/5VO98M/4VNQ8M/36/h?a1=2013&a2=6&a3=20   BTMU fined for US sanctions breaches Japanese bank accused of making transactions totalling $100bn for government and private entities in countries barred from doing business in the US http://link.ft.com/r/LVA6WW/K98ZTJ/A7P8KJ/5VO98M/Z89K1N/36/h?a1=2013&a2=6&a3=20   Rio delays deliveries from Mongolian mine Rio calls off plan to start shipments from Oyu Tolgoi as Mongolian government withholds support over unresolved issue on sales revenues http://link.ft.com/r/LVA6WW/K98ZTJ/A7P8KJ/5VO98M/JQVGKS/36/h?a1=2013&a2=6&a3=20   AT&T chief scours Europe for acquisitions AT&T has been scouring the European mobile telecoms markets for acquisitions to expand outside its core US market http://link.ft.com/r/LVA6WW/K98ZTJ/A7P8KJ/5VO98M/RPWASA/36/h?a1=2013&a2=6&a3=20   Markets   Fasten seat belts for turbulent QE exit The market whiplash we have seen in the last 24 hours is actually a thoroughly good thing, since it will force investors to shift their mindsets and portfolios http://link.ft.com/r/LVA6WW/K98ZTJ/A7P8KJ/5VO98M/CWBPA6/36/h?a1=2013&a2=6&a3=20   Gold tumbles through $1,300 on Fed move Prospects of a stronger US economy, higher bond yields and a stronger dollar spurred analysts to take a scalpel to their gold price forecasts http://link.ft.com/r/LVA6WW/K98ZTJ/A7P8KJ/5VO98M/EK8178/36/h?a1=2013&a2=6&a3=20   Bond traders take cue to exit Treasuries Bond funds have registered record outflows in recent weeks as investors tried to get ahead of the Federal Reserve's QE exit http://link.ft.com/r/LVA6WW/K98ZTJ/A7P8KJ/5VO98M/3CFEBB/36/h?a1=2013&a2=6&a3=20   EM currencies fall to resurgent dollar US currency makes hefty gains after the Federal Reserve confirms plans to slow its purchases of bonds if the country's economy continues to improve http://link.ft.com/r/LVA6WW/K98ZTJ/A7P8KJ/5VO98M/9MLFVD/36/h?a1=2013&a2=6&a3=20   Investors rush to sell US corporate debt The selling was indiscriminate, hitting companies with strong credit quality and fragile balance sheets alike http://link.ft.com/r/LVA6WW/K98ZTJ/A7P8KJ/5VO98M/PN5VQI/36/h?a1=2013&a2=6&a3=20   Financial Times - Comment   A US bomb will not stop an Iranian one No one imagines the change of presidential leadership in Tehran provides a get-out-of-jail card. But the election result does offer an opening http://link.ft.com/r/LVA6WW/K98ZTJ/A7P8KJ/5VO98M/4VNQG9/36/h?a1=2013&a2=6&a3=20   British bank reform needs to go further An industry that has taken the public for a monstrous ride leaves no doubt that it must be made to change its ways http://link.ft.com/r/LVA6WW/K98ZTJ/A7P8KJ/5VO98M/RPWAS5/36/h?a1=2013&a2=6&a3=20   It's the ECB that should worry investors Most central bankers and their political masters have a clear idea of what normality they wish to return to after the crisis era – but not in Europe http://link.ft.com/r/LVA6WW/K98ZTJ/A7P8KJ/5VO98M/EK817P/36/h?a1=2013&a2=6&a3=20   Russia is not a place to do business The country could grow at 5% to 6% a year but in all rankings of business regulation, investment risk and corruption, it trails http://link.ft.com/r/LVA6WW/K98ZTJ/A7P8KJ/5VO98M/ULDMN2/36/h?a1=2013&a2=6&a3=20   Digital intelligence and dumb terrorists I would questions whether even the most high-tech data-digging would help when the threat comes from terrorists like the Boston bombers http://link.ft.com/r/LVA6WW/K98ZTJ/A7P8KJ/5VO98M/4VNQG6/36/h?a1=2013&a2=6&a3=20   Financial Times - Management   The supply chain inquisitor Rachel Wilshaw, Oxfam's ethical trade manager, wants businesses to focus on the pay and rights of their source workers at home and abroad http://link.ft.com/r/LVA6WW/K98ZTJ/A7P8KJ/5VO98M/RPWASY/36/h?a1=2013&a2=6&a3=20   Rivals attempt to outsmart smartphone In the age of an app for everything, Logitech and Canon show that there is still a role for single-purpose devices http://link.ft.com/r/LVA6WW/K98ZTJ/A7P8KJ/5VO98M/K928KG/36/h?a1=2013&a2=6&a3=20   A vintage criminal enterprise An Italian penal colony's inmates are producing fine wines http://link.ft.com/r/LVA6WW/K98ZTJ/A7P8KJ/5VO98M/20RIBC/36/h?a1=2013&a2=6&a3=20   Special Reports - FT.com Sustainable Healthcare Yachts and Marinas New Trade Routes: Russia Rugby: Lions tour Video Lex Belgium’s bpost comes to market Belgium’s bpost has attracted high demand for its shares which will begin trading on Friday. Lex’s Nikki Tait and Vincent Boland discuss whether bpost could act as a template for the privatisation of other postal services, including Royal Mail. 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..