Dec 16 (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 approves Daniel Kretinsky's $6.7 bln bid for Royal Mail

parent

Revolut backers offload almost $1bn of stock

Treasury insists on no spring Budget despite fears of fiscal

rule breach

Overview

The British government has approved Czech billionaire Daniel

Kretinsky's 5.3-billion-pound ($6.69 billion) takeover of Royal

Mail owner International Distribution Services.

Revolut staff and early investors have offloaded almost $1

billion of stock since August, after the fintech's UK banking

licence galvanised support from big financial institutions and

secured it a $45 billion valuation.

Rachel Reeves will not hold an emergency tax-raising Budget

next spring in the event low growth or other setbacks blow a

hole in her fiscal plans, the Treasury has insisted, pointing to

a spending squeeze if action was needed.

(Compiled by Bengaluru newsroom)