PRESS DIGEST- Financial Times - May 27

Mon May 26, 2014 8:28pm EDT

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May 27 (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

ECB CHIEF MARIO DRAGHI WARNS OF THREAT TO EUROZONE RECOVERY

(link.reuters.com/xed69v)

PFIZER ADMITS DEFEAT IN ASTRAZENECA BID

(link.reuters.com/zed69v)

BP SIGNS SHALE DEAL WITH ROSNEFT

(link.reuters.com/bud69v)

ERICSSON WARNS OVER LACK OF NEXT-GENERATION NETWORK INVESTMENT

(link.reuters.com/cud69v)

FOUR IN 10 EUROPEAN CARMAKERS SET TO MISS EMISSIONS TARGET

(link.reuters.com/dud69v)

Overview

ECB president Mario Draghi warned that credit constraints were adding to disinflationary pressures in stressed countries, and said weak lending risks were derailing the eurozone's fledgling recovery.

Drugmaker Pfizer officially dropped its bid for UK pharmaceutical giant AstraZeneca on Monday, marking a rare failure for the U.S. company that has made a series of large acquisitions until now.

Rosneft and BP Plc signed an agreement to jointly explore for hard-to-recover oil in Russia, the first major deal for the state-run Russian oil company since the West imposed sanctions over Ukraine in March.

Swedish telecoms equipment maker Ericsson warned that lack of public sector expenditure in next generation networks was resulting in lessening returns on the development the company made in Europe, which is at the risk of falling behind other regions.

Four of Europe's 10 biggest car manufacturers including General Motors, BMW, Fiat and Hyundai would miss carbon dioxide emission reductions targets, and could face penalty according to an report by think-tank Transport & Environment. (Compiled by Aashika Jain in Bangalore; Editing by Lisa Shumaker)

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