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PRESS DIGEST-Financial Times - August 9

·2 min read

Aug 9 (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

- Trump says FBI agents have raided his Mar-a-Lago residence https://on.ft.com/3JIEQBV

- UK retail sales growth fails to keep pace with soaring inflation https://on.ft.com/3dgWUHl

- Toyota unit Hino admits falsifying engine data for nearly 20 years https://on.ft.com/3dfTqEZ

- Pfizer tests vaccine to fend off spread of tick-borne Lyme disease https://on.ft.com/3vRsqlz

- ExxonMobil completes exit from Niger Delta with $1.3bn deal https://on.ft.com/3vNSq18

- Carlyle's chief executive resigns after breakdown in contract talks https://on.ft.com/3dlbOwk

Overview

- Former U.S. President Donald Trump said FBI agents raided his Mar-a-Lago estate on Monday and broke into his safe, coming amid a U.S. Justice Department investigation of Trump's removal of official presidential records to the Palm Beach, Florida, club.

- UK consumer spending defied talk of recession in July, data from industry bodies showed on Tuesday, but it still failed to match the pace of overall inflation. The value of UK retail sales grew 2.3% in July compared with the same month a year ago, according to figures produced for the British Retail Consortium, a trade association, in collaboration with the professional services group KPMG.

- A major affiliate of Japan's Toyota Motor Corp falsified emissions data on some engines going back to at least 2003, more than a decade earlier than previously indicated, a company-commissioned probe showed on Tuesday. The investigative committee tasked by truck and bus maker Hino Motors Ltd blamed the scandal on an environment where engineers did not feel able to challenge superiors, in a rare criticism of corporate culture in Japan.

- Nigeria has approved the $1.28 bln sale of four oilfields run by ExxonMobil to local producer Seplat Energy in the first in a series of planned divestments by international companies withdrawing from the country's troubled Niger Delta.

- The government on Monday issued an amber heat warning, the second highest level possible, with much of England forecast to endure soaring temperatures in the coming days.

- Private equity giant Carlyle Group is replacing its chief executive Kewsong Lee, who will leave the New York and Washington-based group just two years after he was appointed in July 2020.

(Compiled by Bengaluru newsroom)