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PRESS DIGEST- Financial Times - May 30
May 30, 2014 / 1:41 AM / 4 years ago

PRESS DIGEST- Financial Times - May 30

May 30 (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

GOOGLE BOWS TO EU PRIVACY RULING

(link.reuters.com/hec79v)

DRUGS AND PROSTITUTION ADD 10 BLN STG TO UK ECONOMY

(link.reuters.com/jec79v)

MEDIOBANCA HIRES FORMER BARCLAYS CAPITAL EXECUTIVE CANZONIERI

(link.reuters.com/kec79v)

JOHN MACK STEPS DOWN FROM ROSNEFT

(link.reuters.com/mec79v)

ITALIAN HEALTH MINISTRY TO SEEK 1.2 BLN EUROS FROM ROCHE AND NOVARTIS

(link.reuters.com/nec79v)

Overview

Google bowed to European Court of Justice’s decision on the “right to be forgotten”, and said the ruling risked damaging the next generation of internet start-ups and empowered repressive governments looking to restrict online communication.

Britain’s Office for National Statistics report said that sales of illegal drugs and sexual services add around 10 billion pounds ($16.7 billion) to Britain’s economic activity each year, making up just under 1 percent of total economic output.

Mediobanca has appointed former Barclays Capital executive Francesco Canzonieri as the Italian investment bank looks to reposition itself in Europe.

John Mack, a former chief executive and chairman of Morgan Stanley, has decided to leave the board of Russia’s top oil producer, Rosneft, the Kremlin-controlled company said on Thursday.

The Italian government said it planned to seek 1.2 billion euros ($1.63 billion) in damages from two of the world’s biggest drug companies - Novartis AG and Roche Holdings - following a ruling by the country’s antitrust authority that their policies had been detrimental to Italy’s national health service. ($1 = 0.7345 Euros) (Reporting by Aashika Jain in Bangalore)

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