PRESS DIGEST-Financial Times - June 30

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

Headlines

- British American Tobacco slashes 9,000 jobs

- Del Vecchio’s €10 billion buyout bid hit by financing hurdles

- Atom Bank sale on cusp of collapse

- Orban hid half of Hungary’s budget deficit, new PM says

- Wimbledon tennis stars cancel protest over prize money

Overview

- British American Tobacco BATS.L plans to cut about 20% of its workforce as it pursues an AI-driven overhaul to lower costs and lift profits amid regulatory challenges and delayed launches.

- Leonardo Maria Del Vecchio had been seeking more than €10 billion in financing from lenders including UniCredit to buy out two of his siblings’ stakes in the family’s holding company Delfin, but banks have demanded substantial guarantees before committing to a loan of that size.

- Investors in Atom bank, which include Spanish bank BBVA and fund manager Toscafund, are considering halting the sale process because of a lack of interest from potential suitors

- Hungary’s new prime minister Peter Magyar has accused Viktor Orbán’s former government of hiding a budget deficit that would have topped 8 percent of GDP this year — more than double the declared target.

- The world's top tennis players have said they will resume normal media duties at Wimbledon from Monday after constructive weekend talks with the Grand Slam's organisers, though they noted that core issues remain unresolved.