May 30, 2013 / 12:32 AM / in 4 years

PRESS DIGEST - Financial Times - May 30

May 30 (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

Berkshire spends $5.6 bln on NV Energy

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Empire State Building gets REIT and IPO go ahead

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Osborne closes 900-mln-stg tax loophole and slams utility companies

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Gavin O‘Reilly returns to corporate life as head of The Agency

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Shuanghui agrees $4.7 bln deal for Smithfield Foods

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SEC fines Nasdaq $10 mln over Facebook failure

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Overview

Berkshire Hathaway Inc agreed to pay $5.6 billion for NV Energy Inc, the electric utility serving Las Vegas and its power-hungry casinos, saying the deal would help in the development of Nevada’s renewable energy resources.

Investors of the group that controls the Empire State Building have approved a plan to take the New York skyscraper public for $1 billion.

Britain’s finance ministry closed down a 900 million-pound tax loophole on Wednesday by blocking gas and electricity distribution companies from claiming capital allowances off their tax bills against costs dating back decades.

Gavin O‘Reilly, who was ousted as chief executive of Independent News & Media last year, has been appointed as head of The Agency Group, a booking agency for stars such as De La Soul and Dolly Parton.

China’s Shuanghui Group has agreed to buy Smithfield Foods Inc for around $4.7 billion in cash, in what will be the largest Chinese takeover of a U.S. company if completed.

Nasdaq OMX on Wednesday agreed to pay $10 million, the largest penalty ever levied against a stock exchange, to settle civil charges stemming from mistakes during the launch of Facebook Inc’s $16 billion initial public offering last year.

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