May 7, 2018 / 12:37 AM / in 15 days

PRESS DIGEST- Financial Times - May 7

May 7 (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

May risks ire of Tory rebels over customs plan on.ft.com/2HZat9Q

Rolls-Royce to save 145 mln stg in new pension deal on.ft.com/2HYZey7

TUC forecasts 50 pct surge in children growing up in poverty on.ft.com/2wiUthA

UK's oldest bank taps 32-year-old as new partner on.ft.com/2wkr8mI

Overview

Prime Minister Theresa May, risking a furious Eurosceptic backlash, pushed ahead with her preferred hybrid customs plan, as business secretary Greg Clark warned that Japanese carmaker Toyota could move UK production to the European Union unless trade borders were kept open.

Rolls-Royce Holdings PLC agreed a pension deal with unions that will keep the final salary scheme open to existing members until 2024 and save the company about 145 million pounds ($196 million) over the next three years.

Britain’s Trades Union Congress said on Monday the number of children growing up in low-income households is set to be 50 percent higher this year than in 2010. It said the number of children living in poverty was likely to have risen to 3.1 million in working households in 2018 from 2.1 million in 2010.

Britain’s oldest bank, C.Hoare & Co, is bringing in a 32-year-old partner to replace two of its octogenarian owners in an effort to carry the venerable family-controlled institution into the digital age. ($1 = 0.7389 pounds) (Compiled by Bengaluru newsroom; Editing by Sandra Maler)

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