Tuesday, September 3, 2013

Reuters: Hot Stocks: PRESS DIGEST-Financial Times - Sept 4

Reuters: Hot Stocks
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PRESS DIGEST-Financial Times - Sept 4
Sep 4th 2013, 00:07

Sept 4 | Tue Sep 3, 2013 8:07pm EDT

Sept 4 (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

Investors cast doubt on Microsoft deal

(link.reuters.com/kex72v)

LinkedIn plans to sell $1 bln in stock

(link.reuters.com/mex72v)

News Corp spins off local news titles

(link.reuters.com/nex72v)

City grandee countersues ENRC for libel

(link.reuters.com/pex72v)

Wonga shrugs off church critics as profits jump

(link.reuters.com/qex72v)

Gold miners begin strike in South Africa

(link.reuters.com/rex72v)

Overview

Microsoft Corp said it would buy Nokia's phone business and license its patents for 5.44 billion euros ($7.2 billion), but the move ran into a wall of skepticism on Tuesday, pushing Microsoft shares down more than 6 percent.

LinkedIn Corp said it will sell $1 billion worth of stock in a secondary offering as the Internet company, whose shares have more than doubled this year, moves to increase its financial flexibility and perhaps make more acquisitions.

Rupert Murdoch's News Corp said on Tuesday that it has sold Dow Jones Local Media Group, which operated 33 publications, including eight daily and 15 weekly community newspapers, to a unit of Fortress Investment Group for an undisclosed sum.

City grandee and former ENRC board member Paul Judge is counter-suing the Kazakh miner for alleged libel, after it filed a legal claim against him in connection with what it said were leaks of confidential information to the media.

Payday loan provider Wonga shrugged off intense criticism from politicians, charities and the Archbishop of Canterbury as its full-year pretax profit rose more than a third in 2012, benefiting from more than 1 million people who turned to the lender for access to short-term cash.

A fresh wave of industrial unrest hit South Africa's gold mines as the National Union of Mineworkers called for a strike on Tuesday, after weeks of wage negotiations between unions and companies broke down.

(Compiled by Abhirup Roy in Bangalore; Editing by Edwina Gibbs)

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