Reuters: Regulatory News: PRESS DIGEST - Financial Times - June 14

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PRESS DIGEST - Financial Times - June 14 Jun 14th 2012, 00:50 Wed Jun 13, 2012 8:50pm EDT Financial Times BANKS BOW TO EU OVER LIMIT TO BONUSES Bankers' bonuses across the European Union are set to be limited by law, with many bank lobbyists admitting in private that they have lost the fight against a European Parliament initiative to limit the size of bonuses relative to salary. FRANCE SEEKS EURO ZONE STABILITY PACKAGE France is pressing the EU to adopt a financial stability package to stem the euro zone crisis, believing negative market reaction to the 100 billion euro ($125.74 billion) bailout of Spain's banks shows the need for more comprehensive action. JPMORGAN CHIEF BLAMES EXECUTIVES Jamie Dimon, chief executive of JPMorgan Chase, told a congressional hearing on Wednesday he was unaware the bank's chief investment office was accumulating large losses because he was "assured" by his top executives there was only an "isolated, small issue". AMAZON AND GOOGLE TO COMPETE FOR DOMAINS Amazon and Google are set to go head-to-head in a battle to own the potential successors to .com, as the Internet undergoes a "Big Bang" of domain names that will see the introduction of hundreds of new web suffixes. UK'S CAMERON CLEARS WAY FOR HEATHROW U-TURN British Prime Minister David Cameron has paved the way for a U-turn on building a third runway at Heathrow airport, amid signs that Downing Street is cooling to the idea of building a new hub in the Thames Estuary. WPP INVESTORS REJECT SORRELL PAY PLAN Shareholders in WPP have delivered one of the biggest investor rebukes over executive pay in UK corporate history, voting down the board remuneration policies of the advertising group in protest at the rewards offered to chief executive Sir Martin Sorrell. BLAIR CALLS ON GERMANY TO STAND BY EURO Tony Blair has delivered a stark warning of a popular backlash against austerity policies in the euro zone ahead of this Sunday's re-run election in Greece. CABLE TO UNVEIL REVISED EXECUTIVE PAY PLANS More details have emerged of British business minister Vince Cable's watered-down proposals to give investors more power over executive pay as Labour hailed the "blossoming" of shareholder activism on the issue. UK'S OSBORNE TO ADOPT VICKERS REFORMS British Finance Minister George Osborne is to vow to stop problems created by the financial services industry from threatening ordinary taxpayers as he sets out plans for a reform of British banking. Link this Share this Digg this Email Reprints

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