PRESS DIGEST- Financial Times - Dec 20
Dec 19 (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 -Wirecard was 'sloppily done fraud', chief witness tells Munich court -Ron Perelman's Revlon stake to be wiped out in bankruptcy settlemen -UK government to sue PPE supplier over pandemic contracts linked to Tory peer -Bankers' pay boosted by deferral rules, say BoE advisers Overview -The key prosecution witness in Germany's biggest post-war fraud trial admitted guilt on Monday in a scam that led to Wirecard's collapse but said the company was a "swindle" from the start, with former chief executive Markus Braun at its core. -Bankrupt cosmetics giant Revlon Inc on Monday reached a restructuring agreement which would turn over ownership of the company to its lenders and wipe out current shareholders. -Britain's government has started legal action to recover money from a firm at the centre of a row over the supply of personal protective equipment during the COVID-19 pandemic. -The Bank of England said on Monday it was starting a consultation on government plans, which it supports, to scrap a cap on how high financial sector bonuses can be as a percentage of basic pay. (Compiled by Bengaluru newsroom)
