PRESS DIGEST- Financial Times - Jan 7

Reuters

Jan 7 (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

German regulators press Deutsche Bank for shake-up over Libor

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General Electric boosts life sciences division with $1.06 bln deal

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UK regulators launch formal probes into Co-operative Bank

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UK car sales top pre-recession levels

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Teva activist investor backs nomination of Erez Vigodman as chief

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Verso Paper to buy rival in $1.4 bln deal

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Overview

Deutsche Bank faces fresh pressure from regulators to reform its corporate culture over the Libor scandal, after extracts from a report by Bafin, Germany's financial regulator, was leaked to German media - suggesting that the bank had not done enough to restore its reputation.

General Electric Co said it would buy three businesses from Thermo Fisher Scientific Inc for $1.06 billion, a deal that will boost the industrial conglomerate's life sciences division and take forward its ambition of moving into high-tech, high-profit-margin areas of the market.

Britain's financial regulators, Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA), have launched an investigation into problems at the Co-operative Bank , kicking off what threatens to be a difficult year for the lender as it tries to rebuild its reputation following scandals.

British car sales grew by more than 10 percent last year to hit a five-year high, as abundant cheap credit and improved consumer confidence made the country's car market the most buoyant in Europe.

Benny Landa, a leading activist shareholder in Teva Pharmaceutical Industries, the world's largest generic drugmaker, has lent his support for the proposed nomination of Erez Vigodman as its new chief executive officer.

Coated paper maker Verso Paper Corp said it would buy privately held rival NewPage Holdings Inc for about $1.4 billion, including debt, as the sector that's been hit by falling demand and overcapacity continues to consolidate.

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