PRESS DIGEST- Financial Times - May 29
May 29 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.
WEIR SEEKS FRESH DEALS AFTER METSO OFFER IS REJECTED
GSK SALESMEN WANT "BRIBES" REIMBURSED
SUPERMARKET PRICE WAR SET TO BITE INTO TESCO SALES
STRYKER RULES OUT NEAR TERM BID FOR SMITH & NEPHEW
HANNAM LOSES MARKET ABUSE APPEAL
Scottish engineering company Weir Group Plc said it would pursue other acquisitions after its bid for Finnish rival Metso Oyj was rejected by the heavy mining equipment leader.
Britain's biggest drugmaker GlaxoSmithKline is facing protests from Chinese junior employees who claim that the group is refusing reimbursement for bribes they were ordered to pay by senior staff amid a formal criminal probe for bribery in China and four other countries.
Tesco Plc, one of the big four grocers in the UK, is set to report its worst quarter in decades amid rising pressure to slash prices in the face of competition from discount chains, the company's joint brokers said.
Stryker Corp has denied any intention of making a bid for UK rival Smith & Nephew Plc after it emerged that the U.S. medical devices manufacturer was in early stages of preparing an offer.
One of London's most prominent investment bankers, Ian Hannam, lost his appeal against a heavy fine for market abuse, in a case that has fuelled a high-level debate about the rules around deals and the disclosure of information. (Compiled by Aashika Jain in Bangalore; Editing by Lisa Shumaker)
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