Reuters: Regulatory News: PRESS DIGEST - Financial Times - April 11

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PRESS DIGEST - Financial Times - April 11 Apr 10th 2013, 23:07 April 11 | Wed Apr 10, 2013 7:07pm EDT April 11 (Reuters) - Headlines Luxembourg to relax bank secrecy rules () Cyprus to dive into its gold reserves () Lagarde warns over three-speed world () Dalman in threat to quit ENRC board () Trafigura raises $500 mln with perpetual bond () M&S chief under fire over sales () Goldman avoids vote on Blankfein roles () Overview The European Union's largest tax haven-Luxembourg has agreed to start easing its bank secrecy rules from 2015, amid growing international pressure to tackle tax evasion. Cyprus has agreed to sell excess gold reserves to raise around 400 million euros and help finance its part of its bailout, in a move rattling precious metal markets as investors fear it could set a precedent for other troubled eurozone countries. IMF Managing Director Christine Lagarde warned of a three-speed global economy, with the world dividing into three groups - some countries doing well, some on the mend and some still in trouble. A boardroom rift with executives could see Mehmet Dalman, the chairman brought in to clean up ENRC, quit the FTSE 100 miner. Trafigura raised $500 million through its perpetual bond, as the world's second-largest independent metals trader after Glencore taps into new sources of funding. Some of the biggest shareholders in Marks and Spencer are seeking greater clarity on Chief Executive Marc Bolland's strategy to stem the chronic decline in sales at the high street retailer. Goldman Sachs fended off a shareholder proposal that would lead to stripping Chief Executive Lloyd Blankfein of his chairmanship, by offering concessions to a shareholder activist group. Link this Share this Digg this Email Reprints

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