Jan 23 (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

- Murdoch's UK newspaper business apologises to Prince Harry for unlawful activities

- FCA calls for politicians to define acceptable level of consumer harm

- Saba loses battle against Herald board in first blow to UK campaign

- Brussels proposes extending EU banks' access to UK clearing houses

Overview

- Rupert Murdoch's News Group Newspapers has apologised to Prince Harry and agreed to pay substantial damages, admitting for the first time to unlawful activities at The Sun, the High Court in London heard.

- The head of the UK Financial Conduct Authority, Nikhil Rathi, has urged politicians to define acceptable consumer harm levels, warning of increased risks from Sir Keir Starmer's push to slash regulation, including potential rises in mortgage defaults.

- U.S. activist Saba Capital has failed to oust the board of Herald Investment Trust , marking a setback in its campaign against seven UK-listed closed-ended companies, as shareholders rejected its proposal.

- The European Commission said on Wednesday that Brussels has proposed extending EU banks' access to UK derivatives clearing houses until June 2028, marking a win for the City of London.

(Compiled by Bengaluru newsroom)

((globalnewsmonitoring@thomsonreuters.com))