July 24, 2018 / 12:19 AM / 24 days ago

PRESS DIGEST- Financial Times - July 24

July 24 (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

U.S. banks urge UK to cut corporate taxes to stop Brexit exodus

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Fiat Chrysler Europe boss quits after Manley named new chief

on.ft.com/2LygVJP

Facebook leases three new offices in London

on.ft.com/2LweqIa

Sonos aims to raise up to $264 mln in IPO

on.ft.com/2LyFshK

Overview

Wall Street banks are calling on the British government to cut taxes and red tape that they say could lead to financial assets and jobs pouring out of the United Kingdom after Brexit. Senior U.S. bank executives have warned that the City of London is losing its competitive edge against New York, especially since U.S. President Donald Trump slashed corporate tax and pushed for looser regulations.

Fiat Chrysler said on Monday its European head Alfredo Altavilla is leaving the company after being passed over for the chief executive’s role.

Facebook Inc said on Monday it was doubling its footprint in London by leasing three new offices in the King’s Cross area.

Sonos and its investors are aiming to raise up to $264 million in the smart speaker company’s initial public offering, which would potentially value it below earlier target of up to $3 billion. (Compiled by Bengaluru newsroom; Editing by Sandra Maler )

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