PRESS DIGEST-Financial Times - Aug 11
Aug 11 (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
- UK discount retailer Wilko collapses into administration
- Coach owner Tapestry agrees $8.5 billion deal for Versace parent Capri
- India approves Sony-Zee merger to form nation's biggest media company
- Online booking agents turn up heat in long-running Ryanair battle
- FCA tells UK asset managers to prove they offer value for money
Overview
- UK discount retailer Wilko has collapsed into administration, putting around 12,500 jobs at risk after rescue talks with prospective suitors failed.
- US luxury goods group Tapestry has agreed to buy Versace and Michael Kors-owner Capri Holdings for $8.5 billion, in one of the biggest attempts to create a US rival to the European powerhouses LVMH and Kering.
- India has approved the long-delayed merger of domestic broadcaster Zee and the local arm of Japan's Sony , a deal that will create the country's biggest media company and a rival to industry leader Disney.
- Long-running tensions between Europe's biggest online travel companies and Ryanair are rising after the booking agents called on UK regulators to investigate the low-cost carrier's data requirements for passengers who do not book directly through its website.
- The UK Financial Conduct Authority has ordered asset managers to justify the fees charged on their funds, adding to the pressure firms are already facing from the rising popularity of cheap passive trackers. (Compiled by Bengaluru newsroom)
