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PRESS DIGEST- Financial Times - July 29

·1 min read

July 29 (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

- Strike action threatens to shut down UK's biggest container port https://on.ft.com/3BpDSIz

- UK banks handed 352 Mln stg by government to cover COVID loan losses https://on.ft.com/3Bpt5OE

- Anglo American warns on investment threat to energy transition https://on.ft.com/3S94ALG

- UK financial watchdog fines three former Carillion executives https://on.ft.com/3JdcnDY

Overview

- Strike action threatens to shut the UK's largest container port Felixstowe next month, bringing further disruption to the country's transport network as talks in the ongoing rail dispute remained deadlocked.

- UK banks have made initial claims worth 352 million pounds ($428.35 million) from the government to cover losses on one of its flagship state-backed COVID-19 loan schemes, after recording default rates as high as 25%.

- Anglo American CEO Duncan Wanblad said higher borrowing costs and political instability driven by inflation threatened to delay the billions of dollars of investment in mining projects required for the global transition to net zero.

- UK Financial Conduct Authority has fined three former Carillion executives for "recklessly" publishing misleading statements about the outsourcing group's finances before it collapsed in 2018. ($1 = 0.8218 pounds) (Compiled by Bengaluru newsroom)