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Company News

PRESS DIGEST- Financial Times - June 16

June 16 (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

- Berlin to buy stake in COVID-19 vaccine player CureVac on.ft.com/30KlwzV

- Boris Johnson and EU pledge renewed vigour in trade talks on.ft.com/2UMRnMG

- Cineworld faces legal action for pulling out of Cineplex deal on.ft.com/2UL5u4S

- BP to take up to $17.5bn hit on assets after cutting energy price outlook on.ft.com/3huMJwr

Overview

- Germany plans to invest 300 million euros ($340.02 million) and acquire a 23% stake in the private biotech group CureVac, a key player in the race to develop COVID-19 vaccine.

- British Prime Minister Boris Johnson has set an end-of-July deadline for sealing a UK-EU trade deal and has agreed alongwith EU institutional leaders to inject “new momentum” into the negotiations.

- Britain’s Cineworld Group Plc is facing legal action launched against it by its Canadian rival Cineplex Inc after the former pulled out of a $2.3 billion deal that was due to complete this month.

- BP will slash up to $17.5 billion off the value of its oil and gas assets after cutting its long-term oil and gas price forecasts, in the wake of the coronavirus pandemic, which it expects to hasten the shift away from fossil fuels.

($1 = 0.8823 euros)

Compiled by Bengaluru newsroom

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