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PRESS DIGEST- Financial Times - Jan 12
January 12, 2017 / 1:26 AM / in 9 months

PRESS DIGEST- Financial Times - Jan 12

Jan 12 (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

City of London lobbying group drops demand for EU 'passport' on.ft.com/2ilD0Mx

Brexit no longer the main risk to UK's stability, says Carney on.ft.com/2ilCwG8

Downing Street plays down 1,000 stg levy on skilled EU workers on.ft.com/2ilCCgY

Shire agrees $350 mln settlement in U.S. 'kickback' case on.ft.com/2ilAPZb

Overview

Britain’s finance industry has given up on efforts to keep full access to the European Union after Brexit and is pushing instead for a more limited trade deal that would potentially exclude some financial products.

Bank of England Governor Mark Carney said on Wednesday that Brexit was not the main threat to UK’s financial stability but it could “amplify” four other dangers to the economy - mounting consumer credit, a weakened commercial real estate market, the current account deficit, and the fall in the value of sterling.

Downing Street has been forced to play down revelations by a junior minister who had suggested Britain was considering introducing an annual 1,000-pound ($1,217.90) “immigration skills charge” after Brexit on every skilled worker from an EU member state recruited by a British employer.

Shire Plc subsidiaries will pay $350 million to settle U.S. federal and state False Claims Act allegations that it used “kickbacks and other unlawful methods” to induce doctors to prescribe one of its drugs, the U.S. Justice Department said in on Wednesday.

$1 = 0.8211 pounds Compiled by Ismail Shakil in Bengaluru; Editing by Lisa Shumaker

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