July 2, 2018 / 12:31 AM / 10 months ago

PRESS DIGEST- Financial Times - July 2

July 2 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.


EU warns of $300 bln hit to US over car import tariffs


China backs $15 bln tech fund to compete with Japan’s SoftBank


Activist Loeb demands more urgency at ‘complacent’ Nestlé



The European Commission warned that U.S. President Donald Trump’s threat to hit car imports with punitive tariffs risks sparking global retaliation against as much as $300 billion of U.S. products.

UK’s Centricus has teamed up with China Merchants Group and SPF Group to launch a 100 billion Chinese yuan ($15.11 billion) fund to invest in technology companies.

Activist investor Daniel Loeb raised pressure on Nestle by urging the company to split into three divisions -beverages, nutrition and grocery - in order to better hold management to account. ($1 = 6.6171 Chinese yuan renminbi) (Compiled by Bengaluru newsroom; Editing by Daniel Wallis)

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