PRESS DIGEST- Financial Times - Jan 11
Jan 11 (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
London loses oil futures listings as Mifid bites
UK government prepares for Carillion collapse as creditors hold talks
Ferrero nears $2.8 bln deal for Nestle's U.S. chocolate business
New York City sues Big Oil over climate change
Hexagon CEO acquitted of insider trading charges
Overview
Intercontinental Exchange Inc said it plans to transfer trading in hundreds of energy futures contracts from London to the United States. As of Feb. 19, 245 futures and options contracts on North American oil and natural gas liquids will be removed from ICE Futures Europe, its London-based derivatives bourse, and instead trade on its ICE Futures U.S. exchange, as customers seek to escape new Mifid II rules governing European financial markets.
The UK government revealed it has drawn up contingency plans to deal with the possible collapse of struggling British building and services company Carillion Plc, as the company was locked in emergency talks with creditors on Wednesday.
Italy's Ferrero was seen as a front-runner to formalise a $2.8 billion deal to buy Nestle's U.S. confectionery business, which includes brands such as Butterfinger, Nerds, Laffy Taffy and Crunch chocolate bars. Privately held Ferrero prevailed in an auction process over U.S. rival Hershey Co and private equity group Rhone Capital and was set to sign off on a deal on Sunday.
New York City on Wednesday filed a multibillion-dollar lawsuit against BP Plc, Chevron Corp, ConocoPhillips, Exxon Mobil Corp and Royal Dutch Shell Plc accusing the five top fossil fuel companies of contributing to climate change.
Hexagon AB Chief Executive Ola Rollen was acquitted of insider trading charges by a court in Oslo on Wednesday, raising pressure on Norwegian financial crime investigators. (Compiled by Bengaluru newsroom; Editing by Peter Cooney)
