PRESS DIGEST- Financial Times - July 16

July 16 Tue Jul 15, 2014 8:48pm EDT

July 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

REYNOLDS AMERICAN AGREES $27 BLN DEAL FOR LORILLARD

(on.ft.com/1qdEfN4)

GOLDMAN AND JPMORGAN BEAT TRADING FEARS

(on.ft.com/1jNR0vg)

YAHOO AGREES TO FRESH DEAL ON ALIBABA STAKE

(on.ft.com/1nFUcs7)

APPLE AND IBM TAKE ON CORPORATE MARKET TOGETHER

(on.ft.com/1mfv6eB)

CHINA'S XIAOMI TAKES ON SAMSUNG IN INDIA

(on.ft.com/1r2TJ4v)

Overview

Tobacco company Reynolds American said it would buy smaller rival Lorillard for $27.4 billion in a complex four-way deal, creating formidable competition for Marlboro-maker Altria in the world's most profitable cigarette market.

Goldman Sachs and JPMorgan Chase both posted healthier-than-expected revenues from their fixed income desks that many investors feared were in rapid decline.

Yahoo Inc has struck a deal to keep a larger stake than expected in Chinese ecommerce group Alibaba Group Holding Ltd IPO-BABA.N when it goes public in what is expected to be the largest technology IPO this year.

International Business Machines Corp and Apple Inc have sealed an exclusive alliance to turn iPhones and iPads into fully business-friendly devices, marking how deeply "consumerisation" is reshaping corporate technology markets.

Chinese smartphone maker Xiaomi has begun an aggressive push into in India, the world's largest smartphone market, placing pressure on market leader Samsung Electronics Co Ltd . (Compiled by Richa Naidu; Editing by Lisa Shumaker)

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