In today's FT: Bo Xilai to face trial on corruption charges, Barcla...


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Financial Times
In today's FT
Thursday July 25 2013

UK Homepage
 
Bo Xilai to face trial on corruption charges
Former Chongqing party chief and once high-flying Chinese politician will stand trial on corruption charges
http://link.ft.com/r/ZE9K33/1OQ0BE/9Z3GXS/EKWWUP/FD0COZ/W1/h?a1=2013&a2=7&a3=24
 
Barclays nears deal with regulators
In a snub to former governor Lord King, who had argued for a 2013 deadline, Barclays bank beats BoE 'Taliban' with delay on leverage rule
http://link.ft.com/r/ZE9K33/1OQ0BE/9Z3GXS/EKWWUP/PNWX4H/W1/h?a1=2013&a2=7&a3=24
 
Google takes on Apple in the living room
Chromecast involves new technology protocol for using any tablet, smartphone or other device to stream content over a home WiFi network to the TV
http://link.ft.com/r/ZE9K33/1OQ0BE/9Z3GXS/EKWWUP/SUDYD0/W1/h?a1=2013&a2=7&a3=24
 

Financial Times - US homepage
 
Facebook shares leap on mobile ad surge
New ad products attract new advertisers to the site as well as mobile advertising customers, to beat second quarter net income expectations
http://link.ft.com/r/ZE9K33/1OQ0BE/9Z3GXS/EKWWUP/EKO0O1/W1/h?a1=2013&a2=7&a3=24
 
China unveils measures to boost economy
The government will eliminate taxes on small businesses, reduce costs for exporters and line up funds for the construction of railways
http://link.ft.com/r/ZE9K33/1OQ0BE/9Z3GXS/EKWWUP/GYCV04/W1/h?a1=2013&a2=7&a3=24
 
'Fabulous Fab' takes to witness stand
Tourre pushed back against SEC lawyers' arguments that he helped Paulson & Co build synthetic 'collateralised mortgage obligation' designed to fail
http://link.ft.com/r/ZE9K33/1OQ0BE/9Z3GXS/EKWWUP/A5BGBY/W1/h?a1=2013&a2=7&a3=24
 

Financial Times - Europe homepage
 
At least 60 killed in Spanish train crash
Train was travelling at normal speed when the accident occurred but one witness said the crash propelled one of the carriages more than six metres into the air
http://link.ft.com/r/ZE9K33/1OQ0BE/9Z3GXS/EKWWUP/WHQ9QG/W1/h?a1=2013&a2=7&a3=24
 
Spy chiefs urge 'cyber health checks'
UK's security chiefs write letters to the chairmen of FTSE 350 companies to survey them on how well they handle cyber security issues
http://link.ft.com/r/ZE9K33/1OQ0BE/9Z3GXS/EKWWUP/VTEQEM/W1/h?a1=2013&a2=7&a3=24
 
Repsol slams Chevron for YPF investment
US oil major lambasted for signing $1.24bn agreement to develop assets expropriated from YPF division – notably the Vaca Muerta shale formation
http://link.ft.com/r/ZE9K33/1OQ0BE/9Z3GXS/EKWWUP/CW86GP/W1/h?a1=2013&a2=7&a3=24
 

Financial Times - Asia homepage
 
Bribery common in China's health system
No Chinese companies have been named in the industry-wide investigation, although the practice of bribing doctors and health officials is rampant
http://link.ft.com/r/ZE9K33/1OQ0BE/9Z3GXS/EKWWUP/GYCVCR/W1/h?a1=2013&a2=7&a3=24
 
QE tapering requires delicate timing
Timing of a first reduction in asset purchases will be delicate, and depends – as Ben Bernanke has asserted – on data during the next few months
http://link.ft.com/r/ZE9K33/1OQ0BE/9Z3GXS/EKWWUP/SUDYD1/W1/h?a1=2013&a2=7&a3=24
 
China bans building of government offices
Country's austerity campaign driven largely by leadership's determination to address what it sees as slipping moral standards of Communist party elite
http://link.ft.com/r/ZE9K33/1OQ0BE/9Z3GXS/EKWWUP/4VPU3R/W1/h?a1=2013&a2=7&a3=24
 

World News
 
Egypt army chief calls for mass protests
General asks Egyptians to strengthen the army's mandate in a move described by supporters of the ousted president as a 'call for civil war'
http://link.ft.com/r/ZE9K33/1OQ0BE/9Z3GXS/EKWWUP/DX6O80/W1/h?a1=2013&a2=7&a3=24
 
Warning on Arctic 'economic time bomb'
Rapidly melting Arctic is 'economic time bomb' likely to cost at least $60tn say researchers calculating financial consequences of region's climate
http://link.ft.com/r/ZE9K33/1OQ0BE/9Z3GXS/EKWWUP/SUDYDC/W1/h?a1=2013&a2=7&a3=24
 
Card fees ruling sparks charged emotions
The Commission's move to cap interbank fees for card transactions, after 20 years of grinding antitrust action, came with a flourish and a sting
http://link.ft.com/r/ZE9K33/1OQ0BE/9Z3GXS/EKWWUP/K9Z7AL/W1/h?a1=2013&a2=7&a3=24
 
Pope puts young at centre of Brazil visit
Thousands of people defied cold weather to gather at the Marian shrine of Aparecida, cheering and waving flags when the pontiff arrived by helicopter
http://link.ft.com/r/ZE9K33/1OQ0BE/9Z3GXS/EKWWUP/XB9S9M/W1/h?a1=2013&a2=7&a3=24
 
Vietnam purge casts shadow over Obama meeting
Washington has warned that Vietnam's accelerating crackdown on dissent is limiting how far the former foes can deepen their re-engagement
http://link.ft.com/r/ZE9K33/1OQ0BE/9Z3GXS/EKWWUP/NR545H/W1/h?a1=2013&a2=7&a3=24
 

Companies News
 
US funeral homes violate consumer laws
Regulation requires funeral homes to give a standardised, itemised price list of all services before discussing arrangements
http://link.ft.com/r/ZE9K33/1OQ0BE/9Z3GXS/EKWWUP/6A1LUU/W1/h?a1=2013&a2=7&a3=24
 
Qualcomm rallies on strong chip demand
Shares add nearly 5 per cent on back of news that demand for the chips that power smartphones and tablets was stronger than expected in second quarter
http://link.ft.com/r/ZE9K33/1OQ0BE/9Z3GXS/EKWWUP/VTEQEL/W1/h?a1=2013&a2=7&a3=24
 
Educational publisher HMH eyes IPO
The company has appointed Morgan Stanley, Goldman Sachs, Citigroup, Credit Suisse and Wells Fargo to lead the IPO, people familiar with its plans said
http://link.ft.com/r/ZE9K33/1OQ0BE/9Z3GXS/EKWWUP/XB9S9T/W1/h?a1=2013&a2=7&a3=24
 
Industrials upgrades mark US recovery
Boeing, Ford and Northrop Grumman lifted guidance for profits giving evidence economic recovery and federal spending are underpinning corporate earnings
http://link.ft.com/r/ZE9K33/1OQ0BE/9Z3GXS/EKWWUP/WHQ9QV/W1/h?a1=2013&a2=7&a3=24
 

Markets
 
Equities struggle after mixed US earnings
Global stocks lack a clear trend as encouraging European data are offset by fresh concerns about China and a mixed batch of US earnings
http://link.ft.com/r/ZE9K33/1OQ0BE/9Z3GXS/EKWWUP/9MHBT2/W1/h?a1=2013&a2=7&a3=24
 
Market turbulence revives ETF fears
The global sell-off last month sparked the highest amount of settlement failures in parts of the $2tn exchange-traded fund market in nearly two years
http://link.ft.com/r/ZE9K33/1OQ0BE/9Z3GXS/EKWWUP/A5BGBR/W1/h?a1=2013&a2=7&a3=24
 
Fall in debt issuance as banks pull back
European issuance declined by a 10th to $248.2bn – less than half the $571.7bn achieved during a peak in debt issuance after the financial crisis
http://link.ft.com/r/ZE9K33/1OQ0BE/9Z3GXS/EKWWUP/9MHBTS/W1/h?a1=2013&a2=7&a3=24
 
Oil slides on weak China manufacturing
Losses gather pace even as data show an extension of strong consumption and stock draws in the US, which has encouraged a run-up in the US oil price
http://link.ft.com/r/ZE9K33/1OQ0BE/9Z3GXS/EKWWUP/PNWX4Z/W1/h?a1=2013&a2=7&a3=24
 
Case for investing in EM still intact
Investors should also consider expanding into frontier markets, as they are among the fastest growing and least indebted economies
http://link.ft.com/r/ZE9K33/1OQ0BE/9Z3GXS/EKWWUP/A5BGHP/W1/h?a1=2013&a2=7&a3=24
 

Financial Times - Comment
 
Banks should not own mines or warehouses
When Wall Street institutions wander away from trading and embark on unlikely new enterprises, it is time to start worrying
http://link.ft.com/r/ZE9K33/1OQ0BE/9Z3GXS/EKWWUP/VTEQIQ/W1/h?a1=2013&a2=7&a3=24
 
Beijing takes on global drugs industry
Chinese regulators are flexing their muscles over pharmaceutical companies by using greater powers and laws that have long been dormant
http://link.ft.com/r/ZE9K33/1OQ0BE/9Z3GXS/EKWWUP/A5BGHO/W1/h?a1=2013&a2=7&a3=24
 
The irrational case for HS2
The government could be more audacious in promoting the cause of a fast rail link, but lacks clarity of purpose and honesty with the public
http://link.ft.com/r/ZE9K33/1OQ0BE/9Z3GXS/EKWWUP/A5BGHF/W1/h?a1=2013&a2=7&a3=24
 
GDP is a clumsy test of economic health
The measure should be supplemented with a broader indicator of economic wellbeing – ideally tracking median household incomes
http://link.ft.com/r/ZE9K33/1OQ0BE/9Z3GXS/EKWWUP/LS7M7N/W1/h?a1=2013&a2=7&a3=24
 
Infant prince is a source of real power
The monarchy has provided a compelling narrative more durable than the 15 minutes of fame enjoyed by celebrities who lack its institutional trappings
http://link.ft.com/r/ZE9K33/1OQ0BE/9Z3GXS/EKWWUP/EKO06N/W1/h?a1=2013&a2=7&a3=24
 

Financial Times - Management
 
Monumental ambitions
Efforts are being made to tackle the poor planning that busts budgets and wastes time on important, transformative projects
http://link.ft.com/r/ZE9K33/1OQ0BE/9Z3GXS/EKWWUP/PNWX45/W1/h?a1=2013&a2=7&a3=24
 
The food companies that make people fat
The food industry may be split over the 'traffic light' labelling system to identify healthier products, but it is the best way to fight obesity
http://link.ft.com/r/ZE9K33/1OQ0BE/9Z3GXS/EKWWUP/MJM57L/W1/h?a1=2013&a2=7&a3=24
 
The shape of modern manufacturing
A London exhibition strives to show how technological advances such as 3D printing can become big business with a little help from stylish design
http://link.ft.com/r/ZE9K33/1OQ0BE/9Z3GXS/EKWWUP/JQAZAF/W1/h?a1=2013&a2=7&a3=24
 
Design space: locker-style access system
Security checks on luggage have been made easier by providing airport staff with master keys, so locks do not have be broken
http://link.ft.com/r/ZE9K33/1OQ0BE/9Z3GXS/EKWWUP/WHQ9E3/W1/h?a1=2013&a2=7&a3=24
 
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Video
Lex
Mild pain relief for GSK

GlaxoSmithKline has become embroiled in a corruption probe concerning some of its Chinese staff, but its first-half numbers helped to soothe market nerves. Lex’s Julia Grindell and Oliver Ralph discuss the UK drugmaker's results and the importance of China to the business.


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