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PRESS DIGEST- Financial Times - June 22
June 22, 2017 / 12:33 AM / 6 months ago

PRESS DIGEST- Financial Times - June 22

June 22 (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

Theresa May ditches manifesto pledges to clear decks for Brexit on.ft.com/2rX5s8Q

Grenfell survivors to get social homes in Kensington luxury development on.ft.com/2rXaYZ1

Bank of England chief economist at odds with Carney on rates on.ft.com/2rWOibw

All change at Hornby after activist investor campaign on.ft.com/2rXf7MR

Overview

Prime Minister Theresa May ditched a series of promises from the Conservative manifesto, illustrating her weakness after the disappointment of this month’s election, as she set out a Brexit-focused government programme on Wednesday.

The City of London Corporation is buying 68 flats in the Kensington Row development on Kensington High Street to house some of the families made homeless in the deadly fire at London’s Grenfell Tower last week.

Bank of England’s chief economist, Andy Haldane, said on Wednesday that he was likely to vote for an interest rate hike in 2017, putting himself at odds with Mark Carney the day after the governor said “now is not the time” to do so.

Phoenix Asset Management said it has acquired a majority stake in Hornby Plc after buying the entire stake of activist investor New Pistoia which succeeded in seeing the removal of Roger Canham as chairman of the loss-making British toymaker. (Compiled by Bengaluru newsroomEditing by Sandra Maler)

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