PRESS DIGEST- Financial Times - Oct 23

Oct 23 (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 LLOYDS TO UNVEIL 9,000 JOB CUTS (http://on.ft.com/1s9CD1o) CO-OP BANK MANAGERS BLAMED FOR DOOMED LLOYDS BRANCHES DEAL (http://on.ft.com/1uHc3yi) GSK RESTRUCTURING TO INCLUDE POTENTIAL FLOAT OF HIV UNIT (http://on.ft.com/ZHm5ag) BRITAIN'S ANTITRUST WATCHDOG SAYS HSBC AND FIRST TRUST BREACHED SME LOAN RULES (http://on.ft.com/1rhVeJt) Overview Lloyds Banking Group Plc is set to unveil its plans to cut 9,000 jobs next week, which comprise 10 percent of its workforce. The move is part of its new three-year strategy to create digital, marketing and customer development function to focus on developing new and improved products. The Co-operative Bank's failed bid for hundreds of Lloyds Banking Group Plc's branches should have been stopped much earlier, a group of British Members of Parliaments said. A report from the Treasury committee, published on Thursday, blames the failed deal on the Co-operative Bank's managers, its regulators and auditors at KPMG. GlaxoSmithKline Plc has launched a multi-billion-pound restructuring plan that includes a potential floatation of its HIV drugs unit. The move is aimed at winning back shareholder support after the drugmaker faced corruption allegations and faltering sales. HSBC Holdings Plc and a unit of Allied Irish Banks Plc have been publicly reprimanded by Britain's antitrust watchdog for breaching competition rules by pushing small and medium-sized companies to open current accounts when taking out loans. (Compiled by Rama Venkat Raman in Bangalore)