PRESS DIGEST-Financial Times - June 7
June 7 (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 Arabia to spend billions on shock merger of PGA Tour and LIV Golf
- CBI wins vote of confidence after claims of misconduct
- Lloyds threatens to push Telegraph owner into receivership
- SSE fined almost 10 mln stg for overcharging National Grid
Overview
- Saudi Arabia is set to pump billions of dollars into the world's biggest professional golf organisation to seal a stunning merger between its breakaway LIV Golf and the US-based PGA Tour.
- The Confederation of British Industry, one of the country's main lobby groups, on Tuesday won a crunch vote of confidence following allegations of wrongdoing, but it failed to secure a firm pledge from ministers to immediately re-engage with the organisation.
- The owner of the Telegraph Media Group has been threatened with receivership by lender Lloyds Banking Group over a longstanding debt owed by the parent company controlled by the Barclay family.
- One of Britain's largest electricity generators SSE has been fined almost 10 million pounds ($12.43 million) after overcharging National Grid to cut output when it was required to help balance the network.
($1 = 0.8045 pounds) (Compiled by Bengaluru newsroom)
