Reuters: Regulatory News: PRESS DIGEST - Financial Times - March 22

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PRESS DIGEST - Financial Times - March 22 Mar 22nd 2013, 00:56 March 22 | Thu Mar 21, 2013 8:56pm EDT March 22 (Reuters) - Headlines Cyprus targets big depositors in bank plan () Rosneft closes $55 bln TNK-BP deal () AstraZeneca to cut 5,000 jobs by 2016 () StanChart pressured into retreat by US () Hermes sales in China rise 30 pct () HP authorises 10 pct dividend increase () Sarkozy faces probe over donation claims () Scotland sets date for independence vote () Overview Cyprus announced the plans on Thursday to overhaul its banking system and levy on big depositors as EU lawmakers threatened to withdraw crucial support if the government failed to agree on the terms of a bailout. Russian state oil company Rosneft closed its deal to buy TNK-BP for $55 billion to become a bigger oil producer than Exxon Mobil. AstraZeneca will shed around a tenth of its workforce by 2016 in an effort to return the struggling drugmaker to growth. Standard Chartered bowed to pressure from the U.S. regulators and retracted its statement regarding the bank's breaches on Iran sanctions. Hermes International, the maker of silk scarves and Birkin bags, went on the offensive against its larger luxury goods rival LVMH to trim down stake in the company. Hewlett-Packard Co raised its quarterly dividend by 10 percent, amid shareholder displeasure over the company's $11 billion acquisition of British software firm Autonomy Plc. Former French President Nicolas Sarkozy was placed under formal investigation on Thursday in a 2007 party funding case involving L'Oreal heiress Liliane Bettencourt. Scotland will hold an independence referendum next year to decide if its five million people should end a 300-year-old union and leave the United Kingdom. Link this Share this Digg this Email Reprints

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