PRESS DIGEST- Financial Times - Oct 24
Oct 24 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.
BP AND CHEVRON REPORT PROMISING OIL FIND (on.ft.com/1t7nGCg)
ASCENT OF UBER CASTS SHADOW ON SALE OF ADDISON LEE (on.ft.com/1FLbyfg)
Overview Bank of England would fire a lender's management over a weekend, impose losses on investors and halt bond trading in a move aimed at preventing taxpayers bailing out banks and to provide more clarity to investors and bank chiefs. EU has told Britain to pay an extra 2.1 billion euros ($2.66 billion) to the EU budget within weeks due to its relative prosperity, a subcharge that will add to Prime Minister David Cameron's domestic worries over Europe. BP Plc and Chevron Corp have disclosed an oil find in the U.S. Gulf of Mexico. The companies said the oil well drilled by Chevron in the Guadalupe prospect in 1,200 metres of water needed more tests to establish its size but had found "significant oil pay."
Uber's head start in Britain has shadowed over the planned Addison Lee's sale after potential bidders raised questions over the impact it could have on Addison Lee's long-term prospects.
(1 US dollar = 0.7906 euro) (Compiled by Rama Venkat Raman in Bangalore; Editing by Lisa Shumaker)
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