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PRESS DIGEST- Financial Times - Sept 20

Sept 20 The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

* EY fined $9 mln for improper auditor relationships

(on.ft.com/2cz3HI5)

* Arm's next chips to drive autonomous cars

(on.ft.com/2cE1cta)

* Shire raises $12 bln of debt to fund Baxalta takeover

(on.ft.com/2cUAkDs)

* Brussels launches competition probe into French utility Engie (on.ft.com/2cUBq2d)

Overview

EY has agreed to pay a $9 million fine after investigations by the Securities and Exchange Commission found that one of its partner involved in the audit of a New York-based public company forged an improperly close friendship with the company's chief financial officer and spent more than $100,000 on corporate entertainment for the executive.

ARM Holdings Plc, the UK company that designs the semiconductors found in most of the world's smartphones, has introduced a chip engineered for new markets including self-driving cars and surgical robots.

Drugmaker Shire Plc sold $12.1 billion of debt on Monday to help finance its acquisition of Baxalta. The deal represents the first bond offering from the Anglo-Irish company, according to Dealogic.

European Union antitrust regulators on Monday opened a probe into tax deals granted by Luxembourg to French electric utility company Engie, as it expands its state-aid clampdown on "sweetheart" tax deals. (Compiled by Shivam Srivastava in Bengaluru; Editing by Sandra Maler)

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