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PRESS DIGEST-Financial Times - Sept 23

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Sept 23 (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

- UK insurers to be blocked from favouring new customers https://on.ft.com/2EsM7c0

- Private equity group Lone Star pulls out of £6.5bn race for Asda https://on.ft.com/2EnxGWu

- TransferWise doubles profits despite 'volatility’' from pandemic https://on.ft.com/3hUPFBl

- Deutsche Bank plans to close 1 in 5 branches in Germany https://on.ft.com/32RXe7C

Overview

- The Financial Conduct Authority is trying to ban insurance companies from charging existing customers more than new ones for motor and home cover.

- US-based private equity firm Lone Star has pulled out of the race to buy British supermarket Asda.

- UK fintech TransferWise doubled profits in the last financial year and said it had continued to grow in 2020 despite the "volatility" brought by the coronavirus pandemic.

- Deutsche Bank plans to shutter one in five branches in its home market in Germany as the country's largest lender strives to return to profitability.

(Compiled by Bengaluru newsroom)