Europe Morning Headlines: Ballmer shakes up Microsoft structure, Markets calme...

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/OZMCDD/B4B61A/92RGVP/40S17Y/   Europe morning headlines Friday July 12 2013 Financial Times - Europe homepage   Ballmer shakes up Microsoft structure Push to position the software company better to come up with new computing experiences that take advantage of the mobile devices and services http://link.ft.com/r/OZMCDD/B4UIAK/JI67RT/YGT402/9MT85G/OS/h?a1=2013&a2=7&a3=12   Markets calmed by 'dovish' Bernanke Federal Reserve chairman's insistence on a long period of monetary accommodation helped US stocks to levels above their previous record close http://link.ft.com/r/OZMCDD/B4UIAK/JI67RT/YGT402/9MT850/OS/h?a1=2013&a2=7&a3=12   Transatlantic swaps deal averts crunch Truce in the turf war over policing derivatives removes uncertainty for dealers such as Barclays and Deutsche Bank over who regulates them http://link.ft.com/r/OZMCDD/B4UIAK/JI67RT/YGT402/CWG0KW/OS/h?a1=2013&a2=7&a3=12   'Debt peril' threatens 1.25m households Resolution Foundation says many more will have to spend half their disposable income on repayments by 2017 if mortgage rates increase http://link.ft.com/r/OZMCDD/B4UIAK/JI67RT/YGT402/FDO2IX/OS/h?a1=2013&a2=7&a3=12   Austerity to take gloss off China's games President Xi Jinping's austerity campaign hits China's largest, highest-level national sports competition, with the budget for the event cut by 75% http://link.ft.com/r/OZMCDD/B4UIAK/JI67RT/YGT402/B4BOW2/OS/h?a1=2013&a2=7&a3=12   Markets   Asian markets mixed but set for weekly gain Stocks mixed despite a record finish for the S&P 500, but Japan's Nikkei is on track for its fourth straight weekly advance http://link.ft.com/r/OZMCDD/B4UIAK/JI67RT/YGT402/ULY9T3/OS/h?a1=2013&a2=7&a3=12   Feedback loops heighten risk of contagion Regulators and investors alike need a better understanding of interconnections and how they might change, harnessing the powers of Big Data to do so http://link.ft.com/r/OZMCDD/B4UIAK/JI67RT/YGT402/DX8CK8/OS/h?a1=2013&a2=7&a3=12   BP registers as US swaps dealer The oil major is the first energy company to acknowledge its size and role as a derivatives trader are large enough to trigger strict regulatory oversight http://link.ft.com/r/OZMCDD/B4UIAK/JI67RT/YGT402/OF5K3U/OS/h?a1=2013&a2=7&a3=12   Shrinking oil spreads shake crude trade Traders ask whether this week's fall in the spread to below $2 a barrel means the prices of Brent and West Texas Intermediate will revert to parity http://link.ft.com/r/OZMCDD/B4UIAK/JI67RT/YGT402/IEV7Q2/OS/h?a1=2013&a2=7&a3=12   Homebuilders drive US stock rally The S&P 500 is on track to close at a record high after the Fed suggests it is in no hurry to raise interest rates, helping homebuilders to rally http://link.ft.com/r/OZMCDD/B4UIAK/JI67RT/YGT402/4V3LAM/OS/h?a1=2013&a2=7&a3=12   World News   Russia convicts dead lawyer Magnitsky Court ruling on the investment fund lawyer who died in jail will further undermine Russian President Vladimir Putin's reputation in the west http://link.ft.com/r/OZMCDD/B4UIAK/JI67RT/YGT402/6AUH7W/OS/h?a1=2013&a2=7&a3=12   Senators seek bank reform on Glass-Steagall lines Combined, the bills have put Wall Street banks on the defensive in Washington, despite the fact that neither is likely to advance in this Congress http://link.ft.com/r/OZMCDD/B4UIAK/JI67RT/YGT402/3CN126/OS/h?a1=2013&a2=7&a3=12   Portugal president's unity call backfires Aníbal Cavaco Silva's proposal of a 'national salvation' agreement prompted a fresh increase in bond yields and hit share prices http://link.ft.com/r/OZMCDD/B4UIAK/JI67RT/YGT402/6AUHZL/OS/h?a1=2013&a2=7&a3=12   EU eyes sanctions for democratic breaches Tensions between the EU and Hungary reach a new high with Budapest accusing the EU of meddling in its sovereignty, likening it to the Soviet Union http://link.ft.com/r/OZMCDD/B4UIAK/JI67RT/YGT402/LSZ4JW/OS/h?a1=2013&a2=7&a3=12   Brussels bank move seen as 'enabling act' Comments reflect deep German concern the commission has overstepped its powers with a proposal to make itself the top authority for winding up eurozone banks http://link.ft.com/r/OZMCDD/B4UIAK/JI67RT/YGT402/WHEJBF/OS/h?a1=2013&a2=7&a3=12   Europe News   Karadzic genocide charges reinstated The decision cuts against the grain of the court's acquittal in May of two senior Bosnian Serb officers who had been charged with organising ethnic cleansing http://link.ft.com/r/OZMCDD/B4UIAK/JI67RT/YGT402/A5H6WX/OS/h?a1=2013&a2=7&a3=12   US 'Magnitsky list' has little effect Rather than being a deterrent to Moscow officials, experts say the Magnitsky act has only served to boost a siege mentality in the Kremlin http://link.ft.com/r/OZMCDD/B4UIAK/JI67RT/YGT402/XBQR8G/OS/h?a1=2013&a2=7&a3=12   German opposition in minimum pay push Rapid introduction would boost consumer spending by €19bn and increase the sluggish growth rate in Europe's largest economy, says Red-Green alliance http://link.ft.com/r/OZMCDD/B4UIAK/JI67RT/YGT402/IEV7QX/OS/h?a1=2013&a2=7&a3=12   Financial hardship hits EU fertility rate Decline in birth rate particularly acute among younger workers, who are experiencing high unemployment, and in peripheral eurozone countries http://link.ft.com/r/OZMCDD/B4UIAK/JI67RT/YGT402/GY0AIA/OS/h?a1=2013&a2=7&a3=12   Turkcell board move attacked Minority shareholder TeliaSonera has criticised plans by a Turkish regulator to gain a majority of seats on the country's leading mobile group http://link.ft.com/r/OZMCDD/B4UIAK/JI67RT/YGT402/4V3LAC/OS/h?a1=2013&a2=7&a3=12   European Companies News   Nokia fires new round in smartphone fight Finnish group is seeking to differentiate latest handset, the Nokia Lumia 1020, from rivals partly by packing it with advanced digital camera features http://link.ft.com/r/OZMCDD/B4UIAK/JI67RT/YGT402/FDO2II/OS/h?a1=2013&a2=7&a3=12   Phoenix sounds out Swiss Re on tie-up UK life assurance vehicle, backed by entrepreneur Hugh Osmond, in tentative talks over a deal with rival Admin Re after refinancing in January http://link.ft.com/r/OZMCDD/B4UIAK/JI67RT/YGT402/DX8CDS/OS/h?a1=2013&a2=7&a3=12   Dutch minister pledges bonus crackdown Dijsselbloem says payments, approved by central bank and totalling €33m, at Rabobank's investment arm conflict with spirit of the times http://link.ft.com/r/OZMCDD/B4UIAK/JI67RT/YGT402/6AUHZP/OS/h?a1=2013&a2=7&a3=12   Creditors take over French tile maker Private equity-owned Terreal will halve debt burden as it changes hands, with ING, Park Square and Goldman Sachs to take 50 per cent of company http://link.ft.com/r/OZMCDD/B4UIAK/JI67RT/YGT402/87LG5D/OS/h?a1=2013&a2=7&a3=12   Telecom groups raided in EU probe Deutsche Telekom, Orange and Telefónica investigated over whether they abused their position to 'throttle' data-heavy services such as YouTube http://link.ft.com/r/OZMCDD/B4UIAK/JI67RT/YGT402/1ORPC5/OS/h?a1=2013&a2=7&a3=12   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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