June 22, 2020 / 1:09 AM / 18 days 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

- Wirecard's 1.9 bln euros never entered Philippine financial system, bank governor says on.ft.com/3dh91OQ

- UK to tighten takeover rules for groups vital to virus response on.ft.com/2YiMUDs

- Sunak set to follow VAT stimulus with autumn tax rises on.ft.com/37R7ePf

Overview

- Wirecard's explanation for a 1.9 billion euros ($2.12 billion) hole in its balance sheet was further undercut on Sunday when the head of the Philippine central bank said the money never entered the country.

- The UK government will immediately tighten takeover laws to ensure British businesses critical to tackling the coronavirus pandemic are less susceptible to hostile foreign takeovers owing to the economic downturn.

- UK Finance Minister Rishi Sunak is drawing up plans for deferred tax rises and cuts to public spending in his Autumn Budget after he delivers a further fiscal stimulus for the UK economy in the weeks ahead.

$1 = 0.8943 euros Compiled by Bengaluru newsroom

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