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PRESS DIGEST- Financial Times - June 13

June 13 (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


Arcadia avoids collapse as landlords back rescue plan https://on.ft.com/2ZuIiIj


Lidl to ramp up London presence with £500 mln stg investment https://on.ft.com/2wRgMIq


BBC and Sky step up efforts to counter Netflix https://on.ft.com/2XGwW3i



Overview


Philip Green's Arcadia avoided collapse into administration on Wednesday as creditors approved its restructuring plan that will reduce rents and close some stores.


Lidl GB, the British arm of the German-owned discount supermarket chain, on Wednesday announced plans to invest 500 million pounds in London and open 40 new stores over the next five years.


The BBC on Wednesday won provisional approval from Ofcom to extend its programmes available on the iPlayer service while Sky, which is owned by Comcast Corp, announced that it will more than double its investment in European original programming as both companies look to ramp up efforts to counter streaming services like Netflix Inc and Amazon.com Inc .

(Compiled by Bengaluru newsroom; Editing by Sandra Maler)