October 12, 2017 / 12:02 AM / 12 days ago

PRESS DIGEST- Financial Times - Oct. 12

    Oct 12 (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
    
    * Unilever takes steps to streamline operations (on.ft.com/2hCphzc)
    
    * UK energy price cap will not be in force for winter, warns
Ofgem (on.ft.com/2hDyZkC)
    
    * London seeks £240m boost from higher business rates (on.ft.com/2hCOrgT)
    
    * HSBC trader defends Cairn currency deal in 'front-running'
trial (on.ft.com/2hC40FM)
    
    
    Overview
    
    - Unilever Plc          on Wednesday bought back 450 million
euros ($533.84 million) of Dutch preference shares and took
initial steps for the merger of its two main food units.
    
    - UK ministers on Thursday will unveil draft legislation to
tackle households' high energy costs by placing a cap on
electricity and gas bills, but the energy watchdog Ofgem
indicated it would not come into effect this winter.
 
    - London Mayor Sadiq Khan on Wednesday said the city would
retain any future increases in business rates, which are taxes
on companies' premises, rather than pass the money to the
government. The deal could allow London to receive a public
spending boost of 240 million pounds ($317.4 million) next year.
  
    - HSBC Holdings Plc's          former head of global forex
cash trading Mark Johnson, accused of turning an illicit profit
from a $3.5 billion currency deal with Cairn Energy Plc        ,
said he was "surprised" by how well the bank did from the
transaction, but argued it was "fair all round".

 ($1 = 0.8430 euro; $1 = 0.7561 pound)

 (Compiled by Bengaluru newsroom)
  

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