February 2, 2015 / 12:46 AM / 3 years ago

PRESS DIGEST- Financial Times - Feb 2

Feb 2 (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

CREDITORS SET TO SEIZE CONTROL OF TOWERGATE

(on.ft.com/1Ez6hsf)

HARD-UP COUNCILS PREPARE TO SELL MUNI BONDS

(on.ft.com/1HH1V4Z)

DIXONS CARPHONE TO LAUNCH MOBILE SERVICES

(on.ft.com/1vofGAe)

INSURERS WARNED TO USE ‘BIG DATA’ RESPONSIBLY

(on.ft.com/1EYmBjI)

Overview

In an agreement reached on late Sunday night, senior creditors are set to take control of insurance broker Towergate, in a restructuring exercise of its 1 billion pound ($1.51 billion) debt.

Britain’s cash-strapped local municipal authorities are all set to launch a multibillion-pound municipal bond market. The first bond issue, likely in April, is expected to fetch 250 million-300 million pounds and annual issuance may go all the way up to 2 billion-3 billion pounds.

Dixons Carphone has reached an agreement with Hutchison Whampoa’s 3 to use the UK mobile operator’s network to offer customised Internet plans for the smart appliances sold in its stores.

Paul Evans, chairman of the Association of British Insurers has warned insurance companies on the race to gather and use ‘big data’ and to take “great care” ensuring that sections of society are not left vulnerable without any insurance cover.

$1 = 0.6633 pounds Compiled by Ankush Sharma in Bengaluru; Editing by Eric Walsh

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