PRESS DIGEST- Financial Times - December 3

Reuters

Dec 3 (Reuters) - The following are the top stories in theFinancial Times. Reuters has not verified these stories and doesnot vouch for their accuracy.

Headlines

Europe to unleash heavy rate-fixing fines

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UK backs BP in federal contracts dispute with US government

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Bank of England eyes standard risk model to assess capitalratios

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HTC's One Mini smartphone banned in UK after Nokia trial

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Iliad set to prolong brutal 4G two-year price war

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Asda ratchets up pressure with plan for 200 million poundsof price cuts

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Overview

Brussels is expected to levy fines on Wednesday on 10 globalbanks charged with fixing Euribor, Yen Libor or both. The EUcompetition commissioner will announce a decision on theallegedly formed cartels to rig two global interest ratebenchmarks.

The British government backed BP in a U.S. ban, whichbars the company from government contracts, calling it"excessive". The decision in the 2010 Deepwater Horizon oilspill case, affects jobs and pensions of workers in the UnitedKingdom, the United States, and elsewhere, it said.

The Financial Policy Committee said the Bank of Englandcould ask banks to disclose capital ratios using standardisedrisk weights, along with the ratio based on their internalmodels.

A high court ruling on Tuesday said HTC will haveto stop the sale of its "One Mini" brand in the UK as theTaiwanese company was found guilty of infringing Finnishcounterpart Nokia's patents.

French phone company Iliad is set to prolong a two-yearprice war with its rivals by providing 4G services for 19.99euros per month, similar to its 3G offers.

Asda has spent 25 million pounds in cuttingprices before Christmas, and will spend a further 50 million inthe first quarter of 2014 -- a move that is expected to putpressure on the Big Four supermarkets.

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