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

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PRESS DIGEST - Financial Times - June 8 Jun 7th 2012, 23:44 Thu Jun 7, 2012 7:44pm EDT Financial Times EX-BEAR STEARNS EXECUTIVES TO PAY $275 MILLION Former executives of Bear Stearns have agreed to pay $275 million to investors in a rare example of senior Wall Street figures being held liable for allegations of misconduct. IIF SEEKS NEW PLAN ON BANK FAILURES Regulators need to form a common international framework to manage any future banking failures, but the rules should be built around the needs of the banks and not just imposed from above, said the Institute of International Finance. BEST BUY FOUNDER RESIGNS FROM BOARD Richard Schulze, Best Buy's founder and chairman, raised the prospect of selling his 20 percent stake in the electronics retailer by saying he was "exploring all available options" as he announced his immediate resignation from its board. EURO ZONE WOES HINDER BARCLAYS DISPOSALS Barclays' ambitious asset disposal programme launched early last year to boost profitability has been hampered by the eurozone crisis and uncertainty over financial regulation in the UK. HACKERS GET SOCIAL IN LATEST NETWORK ATTACKS Security breaches at LinkedIn and eHarmony have highlighted an escalation in attacks on social networks from hackers seeking to exploit personal data, according to security firms. PHILLIPS 66 TO BOOST RAIL CAPACITY FOR OIL Phillips 66, the refining and chemicals group spun off from ConocoPhillips in May, is ordering 2,000 rail cars to transport crude from the North Dakota oilfields to its refineries on the east and west coasts of the U.S., in a sign of how the boom in onshore oil production is shaking up the American energy industry. LOTUS SACKS CHIEF EXECUTIVE AFTER PROBE Group Lotus has sacked Dany Bahar, its chief executive, throwing fresh doubts over the future of the loss-making UK sports car maker. Link this Share this Digg this Email Reprints

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