September 23, 2013 / 11:37 PM / in 4 years

PRESS DIGEST- Financial Times - Sept 24

Sept 24 (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

JPMorgan faces U.S. charges on mortgage-backed securities

(link.reuters.com/jyw33v)

BlackBerry agrees sale in $4.7 bln cash deal

(link.reuters.com/kyw33v)

Citi to cut 1,000 jobs in mortgage unit

(ttp://link.reuters.com/myw33v)

Apple sells more than 9m of latest iPhones on first weekend

(link.reuters.com/nyw33v)

Iata cuts airlines' net profit outlook

(link.reuters.com/pyw33v)

African Barrick Gold 'could be independent in 12 months'

(link.reuters.com/qyw33v)

Overview

U.S. authorities are planning to file civil charges against JPMorgan Chase & Co as early as Tuesday alleging the bank misled investors in mortgage-backed securities sold in the lead-up to the financial crisis.

BlackBerry on Monday agreed to be acquired by a consortium of Canadian investment companies, led by its biggest shareholder, for $4.7 billion in cash, in a last-ditch move to ensure the survival of one of the pioneers of the global smartphone industry.

Citigroup Inc said it would eliminate about 1,000 jobs in its U.S. home mortgage business, as higher interest rates hurt refinancing volumes.

Apple Inc beat analysts' expectations as it sold 9 million new iPhones during their first three days in stores, prompting it to upgrade its fourth-quarter financial guidance and pushing shares up in early trading.

The International Air Transport Association, aviation industry's main representative body, cut its 2013 combined profit forecast for global airlines by 8 percent to $11.7 billion on Monday, citing a dip in demand for air travel due to slowing economic growth in emerging markets.

UK-listed African Barrick Gold's chief executive Brad Gordon said the struggling gold miner could be independent of Barrick Gold Corp within 12 to 18 months, if the 74 percent parent restarted attempts to divest the company.

Compiled by Abhirup Roy in Bangalore

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