PRESS DIGEST - Financial Times - Aug 16

Financial Times

U.S. ISSUES ARMS DEAL ULTIMATUM TO TURKEY

Barack Obama has personally warned Turkey that unless it changes its position on Iran and Israel it stands little chance of obtaining the American drone aircraft it wants to buy. here

PATERNOSTER UP FOR SALE

British pension buyout firm Paternoster has been put up for sale, leaving its original backers faced with potential losses of more than half their equity investment. here

ADVENT TO SELL OR FLOAT RETAILER TAKKO

Germany's Takko Fashion is to be sold or floated on the stock market by its private equity owner Advent International with a value of 1.25 billion euros. here

SPONSORS SCORE WITH WORLD CUP

Budweiser (ABI.BR: Quote), Coca-Cola (KO.N: Quote) and McDonald's (MCD.N: Quote) said in recent second-quarter earnings that their sponsorships of this year's Fifa World Cup boosted sales and proved a resounding success. here