PRESS DIGEST- Financial Times - May 8

Reuters

May 8 (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

UKRAINE CRISIS: PUTIN CALLS ON PRO-RUSSIA GROUPS TO DELAY VOTE

(http://link.reuters.com/kak29v)

BARCLAYS' BAD BANK PUSH TO LEAD TO FURTHER JOB LOSSES

(http://link.reuters.com/pak29v)

CAMERON WANTS MORE COMMITMENTS FROM PFIZER ON ASTRAZENECA DEAL

(http://link.reuters.com/sak29v)

YELLEN WARNS ON US HOUSING MARKET RISK

(http://link.reuters.com/tak29v)

Overview

Pro-Russia groups in eastern Ukraine were called upon to postpone a planned referendum on independence by Russian President Vladimir Putin on Wednesday, fuelling hopes of an easing of the crisis that has threatened to tear the country apart.

Plans to cut several thousands more jobs will be unveiled by Barclays as it announces the creation of a bad bank to house much of its investment bank and continental European retail operations. The job cuts will be in addition to the 12,000 already announced earlier.

Pfizer has been told by David Cameron that the British government wants stronger assurances of the drugs giant's commitment to UK science even as he left open the option of extending government powers to intervene in the U.S. drugmaker's 63 billion pound takeover approach for AstraZeneca .

Federal Reserve Chairwoman Janet Yellen has warned in testimony to Congress that the U.S. housing market slowdown poses a fresh risk to growth in the world's largest economy.

(Reporting by Tasim Zahid in Bangalore)

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