PRESS DIGEST- Financial Times - May 6
May 5 (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 * BNP division faces Swiss franc loan probe (http://on.ft.com/1JpfaUt) * Visa expands UK mobile payments service (http://on.ft.com/1dLxnls) * EU calls for global investment court (http://on.ft.com/1EOVuIP) * HSBC raises prospect of spinning off UK retail branches (http://on.ft.com/1EeAAPY) Overview BNP Paribas SA's personal finance subsidiary has become the subject of a formal investigation for allegedly misleading thousands of customers regarding risks associated with taking Swiss franc loans shortly before the eurozone sovereign debt crisis. Visa Europe has formed partnerships with a number of the largest high street banks with the aim of expanding its "digital wallet" service to ease online shopping for thousands of people in the UK as the card provider shifts more towards mobile payments. The European Union has called for the establishment of a global arbitration court that would hear disputes between foreign investors and governments. "Investor-State Dispute Settlement" mechanisms allow foreign investors to take governments before arbitration panels if they feel discriminated against, but they are contentious as an increasing number of them have used it to challenge government regulations. * HSBC Holdings Plc has increased the chance it may spin off its UK retail business after raising concerns about regulations that would prevent it from keeping control of the division's capital and management. (Compiled by Shivam Srivastava in Bengaluru; Editing by Ken Wills)
