PRESS DIGEST- Financial Times - Aug 19

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

StanChart faces fresh $300 mln U.S. settlement

(http://on.ft.com/1uP3aYi)

Rosneft to drill in Arctic with Statoil

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

UK ordered to pay Raytheon 224 mln stg over eBorders contract

(http://on.ft.com/1oKsD2G)

Amlin chief Charles Philipps predicts insurance shake-up

(http://on.ft.com/XvWAZm)

Deutsche Bank hires two IT chiefs to tackle control flaws

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

Egg producer Avangardco to challenge Crimea asset seizures

(http://on.ft.com/Xw156f)

Overview

Standard Chartered Plc is in talks to pay up to $300 million to U.S. authorities to settle allegations the bank failed to identify suspicious transactions, despite promising to improve its procedures after it was fined for violating U.S. sanctions two years ago.

Kremlin-controlled Rosneft will start drilling its first oil well in Norway with the help of Norwegian state-backed Statoil despite the Russian oil industry facing extensive European sanctions.

The British government has been ordered to pay 224 million pounds ($374.66 million) to U.S. weapons maker Raytheon for unlawfully terminating a border security deal with the company in 2010.

British insurer Amlin Plc is predicting a fresh wave of consolidation in the insurance industry as growing competition eats into returns.

German lender Deutsche Bank AG hired one executive each from Goldman Sachs Group Inc and Royal Bank of Scotland Group Plc to bolster its IT compliance and security

Avangardco, Ukraine's largest egg producer, plans to challenge the forced nationalisation of its assets in Crimea by local officials.

($1 = 0.5979 British Pounds) (Compiled by Karen Rebelo; Editing by Cynthia Osterman)

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