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PRESS DIGEST- Financial Times - Aug 2

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·1 min read
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Aug 2 (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

Saudi Aramco to buy Valvoline’s products arm for $2.65bn https://on.ft.com/3oNXiQ8

JD Sports sells Footasylum in cut-price deal https://on.ft.com/3cYZ8uA

Nancy Pelosi to meet Taiwan’s president on Wednesday https://on.ft.com/3cWUxcq

Overview

Saudi Aramco has agreed to buy the global products division of the 150-year-old U.S. motor oil and lubricants group Valvoline for $2.65 billion. Retailer JD Sports is selling its Footasylum sports shoe chain to German investment group Aurelius, taking a hefty loss on a deal that was retrospectively blocked by the UK’s competition regulator.

Speaker of the U.S. House of Representatives Nancy Pelosi plans to meet Taiwan President Tsai Ing-wen on Wednesday.

(Compiled by Bengaluru newsroom; Editing by Tom Hogue)