December 23, 2016 / 2:20 AM / 7 months ago

PRESS DIGEST- Financial Times - Dec 23

2 Min Read

Dec 23 (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

* British Airways cabin crew lift Christmas strike threat on.ft.com/2ihM468

* Italian government approves bailout of Monte dei Paschi di Siena on.ft.com/2ihGuAK

* Prison Service deploys 'Tornado' squads to Kent prison on.ft.com/2ihPJAG

* US sues Barclays for fraud over crisis-era loans

on.ft.com/2ihH5Cz

Overview

- Unite called off a Christmas strike action suspending a planned walkout by some British Airways cabin crew after new proposals from management.

- The Italian government approved Monte dei Paschi di Siena's bailout, led by prime minister Paolo Gentiloni. State rescue of the country's third largest bank, saddled by non-performing loans, became necessary after it failed to raise enough capital in the wake of European-wide stress tests.

- Prison guards were working to control a disturbance involving 60 inmates at HMP Swaleside on the Isle of Sheppey in Kent. Prisoners had taken control of a landing on a wing at the category B prison.

- Federal prosecutors sued Barclays and two of its executives over fraudulent mortgage-backed securities the bank issued as the US housing bubble was at its peak. The suit claims the bank "securitised billions of dollars of loans it knew had material defects" and financed lenders that it knew were issuing mortgages to customers who would be unable to repay them. (Compiled by Sangameswaran S in Bengaluru; Editing by Jonathan Oatis)

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