PRESS DIGEST-Financial Times - July 15

Lucid
BP PLC Sponsored ADR

Lucid

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BP PLC Sponsored ADR

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- The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

- BP cuts net debt after Iran war drives oil price surge

- ECB recruits digital euro critics for pilot

- Brussels to propose easing banks' capital requirements

- Lucid brings in turnaround advisers as EV sales slump



Overview

- BP BP.L has cut its net debt by up to 13% after getting a boost to its profits from higher prices of oil and refined products connected to the Iran war.


- The ECB said that Germany's Deutsche Bank DBKGn.DE and DZ Bank, alongside France's Groupe BPCE, were among 36 companies selected to help test the digital currency next year.


- The European Commission will this week propose to lower capital requirements for some banks as Brussels moves to follow loosening of regulation in the US and the UK.


- Lucid LCID.O has brought in consultants to help revive the struggling Saudi-owned electric-car maker but denied reports that the advisers had "recommended bankruptcy".