February 3, 2014 / 1:42 AM / in 4 years

PRESS DIGEST- Financial Times - Feb 3

Feb 3 (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

HEDGE FUNDS FILE 1.8 BLN EURO LAWSUIT AGAINST PORSCHE BOARD MEMBERS

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ETIHAD IN FINAL TALKS OVER TAKING STAKE IN ALITALIA

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RBS TO SHAKE UP MANAGEMENT TEAM

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SOCGEN BEEFS UP U.S. AND ASIA BOND TRADING UNITS

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INTESA MOVE REIGNITES ‘BAD BANK’ DEBATE

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Overview

Seven hedge funds have filed a 1.8 billion euro ($2.43 billion) lawsuit against Porsche’s chairman and another board member, accusing them of misleading the market before Porsche disclosed in late 2008 that it was eyeing control of larger rival Volkswagen.

Alitalia and Etihad Airways are in the final phase of a due diligence for the completion of an investment by the Abu Dhabi-based airline in the Italian carrier, the companies said on Sunday.

Royal Bank of Scotland’s new Chief Executive Ross McEwan is planning an overhaul of the bank’s top management team, hoping to strengthen its focus on retail and small business customers, according to people familiar with the matter.

Societe Generale, France’s No. 2 listed bank, plans to add up to 150 staff to its bond trading business in a bid to get a stronger global foothold as most of its European banking rivals are cutting back.

Intesa Sanpaolo, Italy’s biggest retail bank, is seeking to become the country’s first lender to set up an internal “bad bank” since the financial crisis by setting aside a chunk of its 55 billion euros of gross non-performing loans before banking stress tests by the European regulator.

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