August 22, 2016 / 12:26 AM / a year ago

PRESS DIGEST- Financial Times - Aug 22

Aug 22 (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

London mayor Sadiq Khan backs Owen Smith for Labour leader on.ft.com/2byyYOb

House prices forecast to drop 1 pct in 2017 on.ft.com/2byAU9o

Investors face British dividend disappointment on.ft.com/2byBcNl

Overview

London Mayor Sadiq Khan backed lawmaker Owen Smith for the Labour leadership contest and called on fellow members of Britain’s opposition Labour Party to replace leader Jeremy Corbyn, in the latest sign that hopes are rising among senior figures in the party that the underdog could beat Corbyn.

Uncertainty over Britain’s departure from the European Union is likely to push house prices down by one percent next year before staging a recovery in 2018, estate agency group Countrywide has predicted.

Underlying UK dividends, excluding exceptional payouts, fell 3.3 percent year-on-year in the second quarter, according to the Henderson Global Dividend Index, as cuts from Britain’s biggest companies and the weakness of the pound takes its toll on the earnings of overseas investors. (Compiled by Ismail Shakil in Bengaluru; Editing by Sandra Maler)

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