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By Kate Holton and Belinda Goldsmith LONDON (Reuters) - Britain's Co-operative Group, battling a capital shortfall at its bank and scandal over the unit's drug-taking former chairman, has appointed ex-Treasury minister Paul Myners to review its operations for a token one pound ($1.6) salary. It was then hit by the arrest of former chairman Paul Flowers, who was in charge when the bank ran into trouble, as part of an investigation into the supply of illegal drugs. Finance minister George Osborne ordered an inquiry into Co-op Bank and Prime Minister David Cameron asked why Flowers, a one-time local Labour politician and Methodist preacher with no banking qualifications, was judged suitable for the chairmanship during a period when the bank nearly collapsed. Myners, 65, was previously Financial Services Minister in the Treasury and has been chairman of retailer Marks & Spencer, Guardian Media Group and Land Securities.
LONDON (AP) — Growing expectations that the U.S. Federal Reserve will cut its monetary stimulus as early as next week weighed on markets Thursday, a day after U.S. shares had one of their worst days in weeks.