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PRESS DIGEST-Financial Times - July 24
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PRESS DIGEST-Financial Times - July 24
Jul 23, 2024 7:41 PM

July 24 (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

- KKR in talks to buy a stake of up to 25% in Eni's biofuel

business

- Informa ( IFPJF ) nears deal to buy Cannes Lions owner Ascential ( AIAPF ) for

more than 1.1 bln pounds

- FCA takes push for $700mn BlueCrest Capital redress plan

to Court of Appeal

- BBC plans 500 job cuts in push for more cost savings

- Meta warns EU regulatory efforts risk bloc missing out on

AI advances

Overview

- Investment firm KKR is in talks with Eni

about buying a stake in the Italian energy group's biofuel arm

that could value the business at between 11.5 billion euros

($12.48 billion) and 12.5 billion euros including debt.

- UK events group Informa ( IFPJF ) is in advanced talks to

acquire rival Ascential ( AIAPF ), which owns global conferences

including advertising festival Cannes Lions, for more than 1.1

billion pounds ($1.42 billion).

- The UK's financial conduct regulator is fighting to

resurrect a $700 million redress scheme that it wants to impose

on billionaire Michael Platt's BlueCrest Capital over

allegations of "reckless" conduct.

- The BBC plans to cut 500 jobs as the UK national

broadcaster seeks more cost savings after a real-term decline in

its funding from the licence fee over the past decade.

- Meta has warned that the EU's approach to

regulating artificial intelligence is creating the "risk" that

the continent is cut off from accessing cutting-edge services,

while the bloc continues its effort to rein in the power of Big

Tech.

($1 = 0.7755 pounds)

($1 = 0.9218 euros)

(Compiled by Bengaluru newsroom)

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