May 8, 2018 / 1:37 AM / 2 months ago

PRESS DIGEST- Financial Times - May 8

May 8 (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

Job cuts at trade department test claim of 'global Britain' after Brexit on.ft.com/2wm1a29

'Worms' video game developer set to float on Aim on.ft.com/2I49DIX

CYBG makes all-share takeover approach for rival Virgin Money on.ft.com/2I47L2P

Overview

The Department for International Trade is set to axe hundreds of officials who promote British exports to countries such as China and Brazil because of a budget squeeze which has pitted trade secretary Liam Fox against the Treasury.

Team17, one of the UK's most successful independent video game labels is selling a 50-percent stake on London's Aim in a listing expected to value it at about 200 million pounds ($271.48 million).

The owner of Clydesdale and Yorkshire Bank, CYBG Plc , made an all-share takeover approach for rival Virgin Money on Monday that values it at just over 1.6 billion pounds. ($1 = 0.7367 pounds) (Compiled by Bengaluru newsroom; Editing by Sandra Maler)

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