March 14, 2014 / 1:21 AM / 4 years ago

PRESS DIGEST- Financial Times - March 14

March 14 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

Barclays to shake up investment bank

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Zuckerberg attacks pace of surveillance reform

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Ban lifted on BP bids for US federal contracts

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Bank of England proposes six-year bonus clawback rule

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Putin ally warns on cost of sanctions

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Overview

Barclays is planning to axe thousands of jobs in a radical shake-up of its investment bank and may replace the European and the U.S. heads of the unit.

Facebook Chief Executive Mark Zuckerberg has criticised the United States over revelations that the government has secretly spied on the activities of some of his company’s 1.2 billion users.

The U.S. government lifted a ban on Thursday that excluded BP from new federal contracts, following a lawsuit by the British oil major saying it was being unfairly penalised for its Gulf of Mexico spill in 2010.

Bank of England has unveiled what appear to be the world’s toughest rules for clawing back bonuses under new proposals aimed at preventing a repetition of the mis-selling and rate manipulation scandals that have hit the sector.

Alexei Kudrin, former Russian finance minister and a key ally of President Vladimir Putin, has warned that the country could soon face capital outflows as high as $50 billon a quarter and no economic growth, should western countries press forward with proposed sanctions against Moscow.

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