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PRESS DIGEST- Financial Times - July 26
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PRESS DIGEST- Financial Times - July 26
Jul 25, 2024 8:42 PM

July 26 (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

- Apollo strikes 2.7 bln pound deal for UK parcel group Evri

- Reeves set to disclose 20 bln pound shortfall in

government funding plans

- Coinbase fined 3.5 mln pounds by UK regulator over

'high-risk' customers

- THG orders staff back to the office as it announces fresh

job cuts

- Revolut secures UK banking licence after three-year battle

Overview

- Private equity investor Advent International agreed to

sell UK parcel delivery firm Evri to funds managed by affiliates

of Apollo, for roughly 2.7 billion pounds ($3.47 billion).

- British Finance Minister Rachel Reeves is expected to

reveal a near 20 billion pound ($25.72 billion) hole in the

public finances as the government accuses the Tories of what it

says is a "failure" to properly run the government finances.

- Crypto exchange Coinbase has been fined 3.5

million pounds by the UK's financial watchdog for providing

payment services to more than 13,000 "high-risk" customers, in

the first enforcement action by the regulator against a company

that enables cryptocurrency trading.

- British e-commerce firm THG is set to cut 171 jobs

across various divisions and has insisted that people return to

the office five days a week.

- Financial technology firm Revolut has received a UK

banking licence with some restrictions, it said on Thursday,

ending a three-year wait for the authorisation and removing

regulatory uncertainty that had held back its ambitions in

Britain.

($1 = 0.7777 pounds)

(Compiled by Bengaluru newsroom)

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