U.S. Markets close in 1 hr 18 mins

PRESS DIGEST- Financial Times - Sept 30

Sept 30 (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


- Draghi backs calls for fiscal union to bolster eurozone https://on.ft.com/2nGdab0


- Austria polls put Sebastian Kurz on course to return to power https://on.ft.com/2m4ToW6


- Boris Johnson defiant on EU departure date https://on.ft.com/2opeMpT


- VW facing largest collective legal claim in modern German history https://on.ft.com/2m9egvz

Overview


- Higher government spending is "more urgent than before" to counter the global slowdown and long-term commitment to fiscal transfers between eurozone member states is essential to bolster the future of the single currency, outgoing European Central Bank president Mario Draghi said in an interview to Financial Times.


- Austrian conservative leader Sebastian Kurz is set to return to the Austrian chancellorship with a significantly strengthened mandate, as his former partners, the far-right Freedom party, suffered big losses in Sunday's parliamentary election.


- British Prime Minister Boris Johnson remained defiant he will not seek for Brexit extension, and hinted that he could encourage another European Union member state into blocking a further Brexit delay, as the Conservative party gathered for its annual conference on Sunday.


- Volkswagen AG is gearing up to fight the largest legal claim of its kind in modern German history, as more than 400,000 German car owners have signed up to a collective lawsuit over the carmakers emissions test scandal. (Compiled by Bengaluru newsroom)