Press Digest: Financial Times - March 8

Virgin Money UK

08/03/2024 24:10

March 8 (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
    - Nationwide agrees to buy Virgin Money for 2.9 bln pounds 
    - UK Insolvency Service seeks 15-year director ban for Lex
Greensill
    - Signa tycoon René Benko files for personal insolvency
    - Christine Lagarde signals June rate cut as ECB lowers
inflation forecast
    
    
    Overview

    - Nationwide Building Society  NBS.L  has agreed to buy
Virgin Money  VMUK.L  for 2.9 billion pounds ($3.71 billion), to
potentially create a more powerful challenger to the UK's
biggest banks.
    
    - The UK Insolvency Service has asked the High Court to
prohibit  Greensill Capital founder Lex Greensill from running
or controlling companies for up to 15 years, after investigating
the 2021 collapse of his eponymous supply chain finance company.
    
    - Fallen property tycoon Rene Benko, whose Signa empire
toppled in a series of high-profile insolvencies, has filed for
insolvency himself at an Austrian court.
    
    - The European Central Bank has indicated it was preparing
for a first cut in interest rates, probably in June, after
lowering inflation forecasts, projecting it will reach its 2%
target next year.
    
    
    ($1 = 0.7807 pounds)

 (Compiled by Bengaluru newsroom)
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