July 2, 2018 / 12:32 AM / 6 months ago

PRESS DIGEST- Financial Times - July 2

July 2 (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

EU warns of $300 bln hit to US over car import tariffs

on.ft.com/2KqHJMs

China backs $15 bln tech fund to compete with Japan’s SoftBank

on.ft.com/2KBXcVY

Activist Loeb demands more urgency at ‘complacent’ Nestlé

on.ft.com/2IJDqWL

Overview

The European Commission warned that U.S. President Donald Trump’s threat to hit car imports with punitive tariffs risks sparking global retaliation against as much as $300 billion of U.S. products.

UK’s Centricus has teamed up with China Merchants Group and SPF Group to launch a 100 billion Chinese yuan ($15.11 billion) fund to invest in technology companies.

Activist investor Daniel Loeb raised pressure on Nestle by urging the company to split into three divisions -beverages, nutrition and grocery - in order to better hold management to account. ($1 = 6.6171 Chinese yuan renminbi) (Compiled by Bengaluru newsroom; Editing by Daniel Wallis)

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