PRESS DIGEST- Financial Times - Feb 27

Feb 26 (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

US PROBE DELAYS BARCLAYS FX SETTLEMENT

(http://on.ft.com/1C1FjZK)

RIG IDLING NEAR 20-YEAR HIGH, SAY DRILLERS

(http://on.ft.com/1Gyk68p)

CRIPPLING US PORTS DISPUTE HITS GAP

(http://on.ft.com/1APwFug)

ZUCKERMAN SEEKS BUYER FOR NY DAILY NEWS

(http://on.ft.com/1BjlcFa)

Overview

New York's Department of Financial Services probe into rigging the foreign exchange markets has held up the settlement that Barclays is willing to accept with other U.S. and U.K. authorities. Sources close to the matter say that Barclays will be reluctant to settle with other regulatory agencies in a separate deal.

Offshore drillers such as Norway's Seadrill have warned that the number of scrapped deepwater rigs is set to be the highest in two decades. The drillers have also forecasted that the current downturn in oil companies due to falling crude prices may last another two years.

U.S. retailer Gap has warned that the current downturn with American ports -- including those at California, Oregon and Washington -- will reduce its current year's earnings by about four percentage points, as wearables like t-shirts and sweaters get delayed.

Real-estate billionaire Mort Zuckerman has hired Lazard to look for a potential buyer for his tabloid New York Daily News, which he has owned since 1993.

(Compiled by Ankush Sharma in Bengaluru; editing by Andrew Hay)

Advertisement