PRESS DIGEST- Financial Times - July 23

Reuters
07/23
PRESS DIGEST- Financial Times - July 23

July 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

- British forex group Argentex to enter administration after hit from dollar rout

- FCA warns insurers over hidden 'double dip' charges on British customers

- Britain set to raise tens of billions of pounds in debt to fund Sizewell C

- 'Net zero' emissions standard paused as Shell quits

Overview

- Argentex AGFX.L, a British listed foreign exchange hedging specialist that suffered a liquidity crisis earlier this year, has appointed administrators, making it one of the highest-profile victims of the currency market volatility triggered by U.S. President Donald Trump's trade war.

- British financial watchdog Financial Conduct Authority has warned insurers that it will scrutinise a controversial practice for vetting customers, following concerns that groups including Admiral and Aviva AV.L had charged higher premiums to poorer consumers.

- British government is set to raise 36.55 billion pounds ($49.42 billion) in debt to fund the Sizewell C nuclear power station, as it tries to revive the nuclear sector despite limited appetite from investors.

- British oil major Shell SHEL.L and other leading energy groups including Norway's Aker BP AKRBP.OL and Canada's Enbridge ENB.TO have abandoned a six-year-long attempt to define a net zero emissions strategy after being told that such a standard would require them to stop developing new oil and gas fields.

($1 = 0.7396 pounds)

(Compiled by Bengaluru newsroom)

((globalnewsmonitoring@thomsonreuters.com))

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