PRESS DIGEST- Financial Times - Feb 12
Feb 12 (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
APPLE SAYS OVERTIME ROSE AT SUPPLIERS
FACEBOOK TO SET UP CYBER SECURITY NETWORK
U.S. BOND MANAGER BRACES FOR UKRAINE LOSSES
FIAT SAYS ATTACKS WILL SPUR MERGERS
Overview
In its annual supplier responsibility report, iPhone-maker Apple Inc said employees of its suppliers worked more overtime to realise what is the company's most profitable quarter in its history. The company also said that it has drastically reduced the usage of conflict minerals, such as tin and gold, that come from warlord-controlled parts of mineral-rich Africa.
Facebook Inc will launch a social network for cyber security professionals to share information about threats that could lead to potential attacks. The world's largest social network is also teaming up with Yahoo Inc and Pinterest for this project.
If Ukraine goes ahead with its widely expected move to limit private sector creditors - as part of bailout terms laid out by the International Monetary Fund - bond manager Michael Hasenstab is poised to lose the most, as he owns more than $7 billion of Ukrainian debt. Hasenstab is known for his contrarian moves, which have earned him big rewards in the past.
Fiat Chrysler Automobiles chief Sergio Marchionne said that carmakers that are reluctant to merge will be forced to do so as they come under attack from activist investors. "At first many boards will try to defend themselves with lawyers and bankers, but ultimately they will have to come to the table to discuss a merger with either us or other large competitors," said Marchionne.
(Compiled by Ankush Sharma in Bengaluru; Editing by Ken Wills and Lisa Shumaker)