PRESS DIGEST- Financial Times - Oct 28

Oct 28 (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 BoE DEMANDS CLIMATE ANSWERS FROM INSURERS (http://on.ft.com/1wD8dsE) CAMERON REJECTS 1.7 BLN STG EU BUDGET DEMAND (http://on.ft.com/1wEOfRJ)

REGULATORS AIM TO RESTORE TRUST IN FINANCIAL MARKETS (http://on.ft.com/1wwvTQh)

CO-OP BANK CHOOSES DENNIS HOLT AS NEW CHAIRMAN (http://on.ft.com/1wCqt7f)

Overview

The Bank of England has written to about 30 insurance companies to evaluate the risks of climate change to their solvency and earnings, in a concern over the potential financial aftermath of global warming.

In his address to the members of parliament, British Prime Minister David Cameron on Monday said Britain would not pay an additional 1.7 billion pounds ($2.74 billion) as part of its contribution to the European Union. The EU says a recent upward revision to Britain's gross national income during 2002-2013 triggered the additional contributions.

Scandals in the financial markets are not caused by just a "few bad apples", and financial regulators are set to impose more regulation on the sector to reclaim public trust, Bank of England Deputy Governor of markets and banking, Nemat Shafik said.

Britain's Co-operative Bank named Dennis Holt as its new chairman, as the bank aims to recover from a high-profile drugs scandal, senior management departures and its near collapse.

(1 US dollar = 0.6203 British pound) (Compiled by Rama Venkat Raman in Bangalore; Editing by Ken Wills)

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