August 16, 2019 / 12:32 AM / 7 days ago

PRESS DIGEST- Financial Times - Aug 16

Aug 16 (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

ECB to shut down Latvian bank PNB on.ft.com/2H8nbEQ

Sports Direct shuts 8 Jack Wills stores with others vulnerable on.ft.com/2HbW37Y

Burford tries to calm storm by replacing CEO's wife as finance chief on.ft.com/2Haa31O

Overview

The European Central Bank has closed down Latvia’s PNB Banka after ruling it had become insolvent, pulling the plug on a lender that was a vocal critic of the Baltic country’s financial authorities.

Sports Direct International PLC has closed eight Jack Wills stores and may shut more if it cannot reach agreement with landlords on lower rents, the company said on Thursday.

Burford Capital Ltd on Thursday named former Morgan Stanley banker Jim Kilman as its new chief financial officer, replacing Elizabeth O’Connell, wife of the company’s chief executive officer.

Compiled by Bengaluru newsroom

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