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PRESS DIGEST-Financial Times - May 17

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May 17 (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 - Frost warns EU that it needs to rethink Northern Ireland rules https://on.ft.com/3eRjrJd

- EU to back reopening of borders to British tourists, says Lisbon https://on.ft.com/3uWahjW

- Johnson urges caution as India variant threatens lockdown easing https://on.ft.com/3tPg89r

-AT&T nears deal to create $150bn streaming giant with Discovery https://on.ft.com/3wbVd28

Overview

- Lord David Frost, Boris Johnson's EU minister, has warned Brussels it needs to "rapidly" rethink its approach to post-Brexit Northern Ireland trade rules as the new political leader of the region's largest party vowed that he "will not rest" until they are torn up.

- Portugal expects the European Union to follow its example this week by recommending that the other 26 member states reopen their borders to British tourists.

- Boris Johnson has urged people to act "with a heavy dose of caution", as pubs and restaurants reopen indoors across England on Monday against the backdrop of a rise in cases of the COVID-19 variant first detected in India.

- AT&T is nearing a deal to combine its content unit WarnerMedia with rival Discovery to create a media giant with an enterprise value of $150 billion, just a few years after acquiring the owner of CNN, HBO and Warner Bros, said people briefed about the matter. (Compiled by Bengaluru newsroom)