May 13 (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
- Proxy adviser ISS backs Elliott in fight against Phillips 66
- Perplexity nears second fundraising in six months at $14 billion valuation
- Cobalt Holdings plans London IPO with Glencore taking 10% stake
- UK unveils ‘backstop’ plan to force pension funds to invest in private assets
Overview
- Activist investor Elliott Management has won the backing of influential proxy adviser Institutional Shareholder Services for all four board nominees in its campaign against oil refiner Phillips 66 PSX.N.
- Perplexity, the artificial intelligence search engine, is finalising a $500 million funding round that would value the start-up at $14 billion.
- Metals investor Cobalt Holdings said on Monday it plans to raise about $230 million in an initial public offering in London.
- UK Chancellor Rachel Reeves will on Tuesday set out contentious "backstop" plans to force large pension funds to invest up to 50 billion pounds ($65.91 billion) in private assets if they fail to meet voluntary targets.
($1 = 0.7586 pounds)
(Compiled by Bengaluru newsroom)
((globalnewsmonitoring@thomsonreuters.com))
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