Nov 13 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.
CHRISTIE‘S SETS $853 MLN ART AUCTION RECORD
According to a European Commission investigative report, due to be published on Friday, the Netherlands illegally understated coffee group Starbucks’ taxable income. The U.S.-based company is already in the middle of a controversy over tax deals in Ireland.
In view of falling oil prices, Premier Oil has decided to scale back its plans to explore the disputed waters of the Falkland Islands. The FTSE 250 group said it will reduce its estimated $2 billion capital expenditure requirement as it will develop fewer wells in the northern part of the disputed islands.
Sir Richard Branson sold a 15 percent stake in Virgin Money , a company he owns partly, as he earned at least 70 million pounds (109.84 million US dollar) from the bank’s flotation on the London Stock Market. If the over-allotment option is triggered and new shares are released, Branson as well as Wilbur Ross, a billionaire co-owner of the bank, are poised to reap as much as 85 million pounds.
Paintings by Andy Warhol, Roy Lichtenstein and Ed Ruscha helped Christie’s create a world auction record of $852.9 mln at a contemporary and postwar evening in New York.
1 US dollar = 0.6373 British pound Compiled by Ankush Sharma in Bangalore