May 20 (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

• US to cut troops in Europe to lowest level since before Ukraine invasion

• Power from Sizewell C will be more expensive than Hinkley Point, says UK watchdog

• Morgan Stanley issues China-only iPhones to its Hong Kong bankers

• UK considers levying ‘oligarch premium’ on overseas buyers of expensive homes
  

Overview

• The Pentagon said on Tuesday that it would reduce the number of U.S. soldiers stationed in Europe to levels last seen before Russia’s full-scale invasion of Ukraine.

• Electricity from the Sizewell C nuclear project is set to be more expensive than power from Hinkley Point, even though the Suffolk plant is cheaper to build, Britain’s public spending watchdog has said.

• Morgan Stanley MS.N has given its entire Hong Kong investment banking team special devices to use in mainland China, in a sign of rising concerns over data compliance for staff travelling to the country.

• British Finance Minister Rachel Reeves is considering levying an “oligarch premium” on top of a new mansion tax that would see non-UK resident property owners forced to pay more for the country’s most expensive homes.