PRESS DIGEST- Financial Times - Dec 18

Reuters

Dec 18 (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

BP ACCUSES US LAWYER OF 'BRAZEN FRAUD'

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3M'S SHARE BUYBACK COULD RISE TO $22 BLN

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JPMORGAN SUES FDIC FOR MORE THAN $1 BLN

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BORIS AIRPORT DREAM LEFT IN HOLDING PATTERN

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GALERIES LAFAYETTE IN TALKS TO BUY HOUSE OF FRASER

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Overview

BP Plc accused a U.S. lawyer of making "misrepresentations" about the number of clients he represented in his legal action against the energy giant over the 2010 Deepwater Horizon disaster.

3M, whose products range from Post-It notes to films used in flat-panel TVs, said it may buy back up to $22 billion worth of shares in the five years until 2017, jumping on the bandwagon of U.S. companies announcing sizable capital returns to investors.

JPMorgan Chase & Co, the largest U.S. bank, has sued the Federal Deposit Insurance Corporation, which managed the receivership of Washington Mutual after the it failed during the financial crisis and then sold most of its assets to JPMorgan.

Britain's Airports Commission on Tuesday outlined two ways to grant Heathrow a third runway, while casting severe doubt on proposals for a hub in the Thames estuary that had been championed by Mayor of London Boris Johnson.

British retailer House of Fraser is in advanced, exclusive talks to be bought out by French department store chain Galeries Lafayette, according to two sources familiar with the situation.

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