PRESS DIGEST- Financial Times - Oct 2
Oct 2 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.
Headlines
* Banks pull out of dozens of benchmarks after rate-rigging scandals
* Germany's Rocket Internet raises 1.4 bln Euros in IPO
(http://www.ft.com/fastft?post=214692)
* France and Italy push for fiscal leniency
* David Cameron pledges sweeping tax cuts for low and middle earners
* Google to stop publishing extracts from Axel Springer
Overview
* Some of the world's largest banks have stopped contributing to many of the financial benchmarks to avoid potential litigation, as a result of the Libor and foreign exchange rate rigging scandal.
* German ecommerce company Rocket Internet AG priced its shares at 42.50 euros ($53.6265). The share listing is expected to raise gross proceeds of 1.4 billion euros and give it a market value of 6.7 billion euros.
* France and Italy have increased their defiance of EU budget targets as the two countries go into talks relating to their public finances with their European partners in the coming weeks.
* UK Prime Minster David Cameron vowed to lower income taxes for 30 million people and keep a competitive corporate tax policy. These tax cuts will cost 7.2 billion pounds a year when fully implemented in 2020.
* Google Inc announced it would stop publishing snippets of German publisher Axel Springer's articles in its search results. This action follows a dispute between both the groups over intellectual property rights. (1 US dollar = 0.7925 euro) (Compiled by Shivam Srivastava in Bangalore)