PRESS DIGEST- Financial Times - Aug 22

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

U.S. signals escalation in Isis fight

(http://on.ft.com/1s6YBny)

StanChart's NY anti-money laundering settlement draws UAE ire (http://on.ft.com/1vnr0ru)

Rosneft hit by western sanctions as $2 bln Vitol deal scrapped (http://on.ft.com/1vnv2Ad)

Rusal restructures $10 bln debt pile

(http://on.ft.com/1kYWaEQ)

Rabobank and Raiffeisen warn on impact of Russian sanctions

(http://on.ft.com/1ACmCI7)

U.S. TV takeovers threaten UK creative economy, says C4 chief (http://on.ft.com/1mrl7Ev)

Overview

United States top security advisers say that the Islamist militant group in northern Iraq can be defeated only by tackling them in Syria, signalling an escalation of the country's military campaign.

The United Arab Emirates' central bank on Thursday warned Standard Chartered Plc that it was liable to face legal action in the UAE after it agreed to close some customers' UAE accounts in an anti-money laundering settlement with U.S. authorities.

Tougher western sanctions have come in the way of a planned $2 billion deal between Kremlin-backed Rosneft and oil trader Vitol.

The world's biggest aluminium producer Rusal completed the restructuring of its $10 billion debt pile after negotiations with creditors that lasted a year.

Executives at Rabobank of the Netherlands and Raiffeisen Bank International of Austria have warned of the impact of geopolitical tensions between the EU and Russia on their business.

The head of UK's Channel 4 said the British television industry risked becoming a victim of its own success with U.S. takeovers of British TV companies threatening the UK's creative economy.

(Compiled by Karen Rebelo)

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