Reuters: Regulatory News: PRESS DIGEST - Financial Times - May 8

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PRESS DIGEST - Financial Times - May 8 May 8th 2012, 00:31 Mon May 7, 2012 8:31pm EDT Financial Times WONGA TO OFFER LOANS TO SMALL BUSINESSES Wonga, the online lender that charges annual interest rates of 4,000 per cent on short-term loans, has launched a service for cash-strapped small businesses that offers to make credit available in as little as 15 minutes. TERRA PLANS TO LAUNCH IN EUROPE Terra Networks, the Latin American online media company that emerged out of a high-profile dot com-era boom and bust story, is planning to launch in several European countries, with help from its Spanish parent company, Telefonica. MAN GROUP REPLACES AHL'S HEAD OF RISK Man Group, the world's second largest hedge fund manager by assets under management, has appointed a new head of risk to oversee its troubled flagship fund, AHL. IRAN ACCEPTS RENMINBI FOR CRUDE OIL Iran is accepting renminbi for some of the crude oil it supplies to China, industry executives in Beijing and Kuwait and Dubai-based bankers said, partly as a consequence of U.S. sanctions aimed at limiting Tehran's nuclear programme. REPSOL WARNS RIVALS OVER INVESTING IN YPF Spain's Repsol, stripped of a 51 percent stake in Argentine oil company, YPF, by the government in Buenos Aires, has written to oil majors including Exxon, Chevron and ConcoPhillips warning it would sue if they try to invest in YPF or its assets. UK GROUPS PRESS FOR REFORM OF FSCS UK financial companies are putting regulators under growing pressure to reform the Financial Services Compensation Scheme, arguing that the current system unfairly penalises responsible companies for malpractice at other groups. JURY DELIVERS SPLIT ORACE-GOOGLE VERDICT The high-stakes courtroom showdown between Oracle and Google has been thrown into confusion after a jury found against Google on the main copyright infringement charge it faced, but also failed to reach a decision on a central argument made in Google's defence. SHIPS SLOW DOWN IN PIRATE WATERS TO SAVE FUEL Violent confrontations between Somali pirates and merchant ships' armed guards could become more common as some shipping companies have reduced ship speeds through the highest-risk area to save on fuel, maritime experts have warned. Link this Share this Digg this Email Reprints

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