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PRESS DIGEST- Financial Times - Sept 1

Sept 1 (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

- KKR buys 1.8 bln euro stake in Telecom Italia's last-mile network on.ft.com/2QU2Qrr

- Boris Johnson faces crucial test as school holidays end in England on.ft.com/31K4bHl

- Hammond warns of return to '70s misery' if post-Brexit state aid not controlled on.ft.com/3bfnDiw

- Pharma industry calls on UK to support medical research charities on.ft.com/3bbXwsJ

Overview

- Telecom Italia’s board has approved the sale of a minority stake in its secondary network to U.S. private equity group KKR for 1.8 billion euros ($2.15 billion), after delaying the decision earlier this month at the government’s request.

- Boris Johnson faces a crucial political test this week as England’s schools reopen and ministers hope that work patterns will return “closer to normal” after the COVID-19 lockdown and summer break.

- Boris Johnson has been warned by former chancellor Philip Hammond that Britain risked being on “a fast track back to the misery of the 1970s” unless the government adopts clearly defined post-Brexit state aid rules.

- More than 30 pharmaceutical companies and business groups have written to UK prime minister Boris Johnson urging the government to plug a 310 million pounds ($414.28 million) financing gap faced by medical research charities that work closely with industry to fund and develop drugs. ($1 = 0.8377 euros) ($1 = 0.7483 pounds) (Compiled by Bengaluru newsroom)

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