Financial Times - Oct 11



Oct 11 (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

- Fed-led dash for higher rates risks 'world recession', warns top EU diplomat Link

- De Beers picks Equinor executive as next chief Link

- Kwarteng warned he faces 60 billion stg bill to stabilise UK finances Link

- Veteran picked as top Treasury mandarin in Truss U-turn Link

Overview

- The U.S. Federal Reserve is leading a worldwide rush of central bank rate rises that risks tipping the world into a recession, the EU's top diplomat Josep Borrell said, as he warned the union is not fighting its corner in the world.

- Anglo American's AAL.L De Beers has appointed oil and energy industry executive Al Cook as its new chief to replace Bruce Cleaver, who steps down after eight years at the helm of the world's top diamond producer.

- British finance minister Kwasi Kwarteng needs to make 62 billion pounds ($68.61 billion) of spending cuts or tax rises to stop public debt growing ever-larger as a share of the economy, the Institute for Fiscal Studies (IFS) said.

- Veteran civil servant James Bowler was appointed as permanent secretary to Britain's Treasury on Monday, the government said in a statement, making him the finance ministry's most senior official.

($1 = 0.9037 pounds) (Compiled by Bengaluru newsroom)

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