June 8 The following are the top stories in the
Financial Times. Reuters has not verified these stories and does
not vouch for their accuracy.
- Saudi Aramco not to be part of FTSE 100 if listed in
- Matt Zames departure shines spotlight on JPMorgan
- Exit poll points to hung parliament in disaster for
Theresa May on.ft.com/2rGUFTq
- Saks owner Hudson’s Bay to axe 2,000 jobs as losses mount
- Saudi Aramco (IPO-ARMO.SE) will not join the FTSE 100
stock index if it lists its shares in the UK. FTSE Russell, the
exchange that runs the FTSE 100, says that members of the index
must have high-grade “premium” listings and float at least 25
percent of their shares, but Aramco plans to only sell less than
5 percent of its equity. Aramco has not pushed for a change of
FTSE Russell's listing rules.
- JPMorgan Chase Chief Operating Officer Matt Zames
announced his resignation. His COO responsibilities will be
spread among four senior colleagues.
- UK Prime Minister Theresa May’s gamble on a snap election
appeared to have not worked well, after exit polls showed that
the Tories would fall 12 short of an overall majority, leaving
her future as prime minister in doubt.
- Owner of the Saks Fifth Avenue Hudson’s Bay said on
Thursday that it planned to cut some 2,000 jobs across its North
American operations as part of a major restructuring.
(Compiled by Bengaluru newsroom)