Financial Times Highlights: Major Deals and Market Shifts

The Financial Times covers significant market developments including an upcoming asset management partnership between Natixis and Generali, Bureau Veritas' abandonment of a merger with Intertek in favor of a Swiss deal, BP's workforce reduction, and scrutiny by the UK's Financial Conduct Authority over US hedge fund activities.

In a significant development in the finance sector, France's Natixis Investment Managers and Italian insurer Generali are preparing to combine their forces in an asset management joint venture. This partnership aims to unite two prominent European players, signaling a substantial shift in the market landscape.

Meanwhile, Bureau Veritas has opted out of a merger with Britain's FTSE 100 group Intertek, choosing instead to pursue a lucrative 31 billion-pound collaboration with Swiss company SGS. This move highlights the growing trend toward consolidation in the certification industry.

Additionally, BP's recent decision to cut 4,700 jobs signifies its effort to reduce costs and boost its lagging share price, while Britain's Financial Conduct Authority is now involved in addressing concerns over a US hedge fund's aggressive campaign targeting investment trusts.

(With inputs from agencies.)