U.S. Markets closed

PRESS DIGEST- Financial Times - May 29

May 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


French retailer Casino scraps interim dividend in bid to cut debt https://on.ft.com/2I03QVW


Algebris launches new fund targeting jumps in volatility https://on.ft.com/2I332zI


Matt Hancock makes pro-business pitch for Tory leadership https://on.ft.com/2I08HGE


Overview


Casino Guichard-Perrachon SA said on Tuesday that it has decided not to pay an interim dividend in 2019 as part of efforts to reduce its debt levels, following another ratings downgrade for the indebted French retailer.

Algebris Investments, a hedge fund based in London with $12 billion in assets, has launched a new vehicle designed to profit from a growing tide of computer-driven traders targeting volatility, which some analysts argue has made markets more turbulent.

British Health Minister Matt Hancock has lambasted Conservative leadership rival Boris Johnson for his anti-business stance, arguing that the party should repair relations with corporate Britain, which has felt shunned by Prime Minister Theresa May's government. (Compiled by Bengaluru newsroom; Editing by Sandra Maler)