June 5, 2019 / 12:31 AM / 20 days ago

PRESS DIGEST- Financial Times - June 5

June 5 (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

Philip Green agrees deal with UK pensions regulator. on.ft.com/2QOKCqq

Sainsbury's Coupe gets pay rise despite failed Asda takeover. on.ft.com/2WamDD2

Renault board stalls decision on 33 bln euros FCA merger. on.ft.com/2Wbn1Bi

FirstGroup hits back at activist shareholder. on.ft.com/2WgQM3q

Overview Arcadia Group has secured the backing of the Pension Protection Fund after Philip Green and his wife Tina sealed a vital deal with the UK’s Pensions Regulator for its restructuring, according to the company and the regulators. J Sainsbury PLC’s Chief Executive Officer Mike Coupe saw his overall pay rise almost 7% to 3.88 million pounds ($4.93 million) in the past financial year, according to the company’s annual report, despite the collapse of the grocer’s planned takeover of Asda and a share price now languishing near multiyear lows.

Renault SA’s board has postponed its decision over its proposed 33 billion euro ($37.13 billion) merger with Fiat Chrysler Automobiles NV when it met on Tuesday to discuss the proposal submitted by FCA last week. UK transport company FirstGroup PLC has hit out at activist shareholder Coast Capital Management for trying to replace most of its board and has put out a defiant notice to the stock market calling it “opportunistic, self-interested player that is only focused on short-term gains”. ($1 = 0.8888 euros) ($1 = 0.7872 pounds) (Compiled by Bengaluru newsroom; Editing by Sandra Maler)

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