February 27, 2019 / 1:47 AM / 6 months ago

PRESS DIGEST- Financial Times - Feb 27

Feb 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

- UK insurer Direct Line appoints Penny James as chief on.ft.com/2EydZJ0

- Metro Bank to raise £350m as regulators probe accounting error on.ft.com/2Ezk1Je

- Property funds likely to halt trading, says rating agency on.ft.com/2EzHutV

- Network Rail chairman open to its abolition after industry review on.ft.com/2EywKfk

Overview

- British motor insurer Direct Line Insurance Group Plc said on Tuesday the company’s chief financial officer Penny James will succeed Paul Geddes as its chief executive officer in May.

- Metro Bank PLC said it plans to raise a £350 mln ($463.72 million) in a share placement as the British bank intends to make up for a shortfall in the capital it holds against loans.

- Ratings agency Fitch warned on Tuesday that investors in open-ended British property funds faced a “growing risk” that funds would suspend trading units next month.

- Network Rail, which owns and manages the Britain’s railway infrastructure, chairman Peter Hendy said he would not mind if a sector-wide review recommended abolishing the organisation. ($1 = 0.7548 pounds) (Compiled by Bengaluru newsroom; Editing by Sandra Maler )

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