June 5, 2012 / 12:52 AM / 5 years ago

PRESS DIGEST - Financial Times - June 5

Financial Times

MF GLOBAL‘S CORZINE MAY FACE LEGAL CLAIMS

Jon Corzine has been blamed by the legal trustee overseeing the bankruptcy of the MF Global for ramping up risk at the dealer-broker while failing to overhaul money management systems. link.reuters.com/byx58s

RUSSIAN COURT REOPENS $13 BILLION BP SUIT

A Siberian court has called for a new hearing into a $13 billion lawsuit filed by minority shareholders in TNK-BP against BP over a failed bid last year to form an alliance with Rosneft, the Russian state oil champion. link.reuters.com/cyx58s

LISBON TO INJECT BILLIONS INTO LARGEST BANKS

The Portuguese government will inject 6.6 billion euros ($8.25 billion) into three of the country's largest banks, becoming the latest euro zone country to tap international bailout funding for an undercapitalised financial sector. link.reuters.com/dyx58s

DRAGON CONSORTIUM WINS IRAQ OIL FIELDS BID

Dragon Oil has emerged as a partner in a winning consortium seeking to develop new oil and gas fields in southern Iraq, although low levels of interest from companies marked the auction of 12 blocks last week. link.reuters.com/fyx58s

SCHRODERS EYES PROPERTY LOANS MARKET

Schroders is in talks to enter the real estate lending market in the latest example of a company moving into the funding gap created by the retrenchment of bank lending. link.reuters.com/gyx58s

EFG-HERMES IN LEGAL THREAT OVER BID

The fight for control of the Arab world's most prominent investment bank escalated on Monday with its managers threatening to take legal steps to halt a hostile takeover attempt by a group of Egyptian financiers. link.reuters.com/hyx58s

BRUSSELS NEUTRAL ON CARMAKER OVERCAPACITY

Europe's industry commissioner has ruled out a Brussels-led fix for the car industry's deepening crisis of excess capacity, ahead of a meeting with carmaking chief executives on Wednesday. link.reuters.com/jyx58s

BANK UNION ADVOCATES HIT GERMAN OPPOSITION

Moves by senior EU leaders to develop a "banking union" in Europe face robust opposition from banks in Germany over fears that they would be put on the hook to support rivals in weaker countries. link.reuters.com/kyx58s

$1 = 0.6501 British pounds Reporting by Stephen Mangan

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