PRESS DIGEST-Financial Times - May 22

Estee Lauder Companies Inc. Class A

Estee Lauder Companies Inc. Class A

EL

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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

- Estée Lauder and Puig end merger talks to create beauty powerhouse


- Transport for London voices concern over robotaxis as ministers invite bids


- WM Morrisons blames UK government policy for shutting 100 lossmaking stores


- Ending tax loophole for oil groups will fund cost of living package, says Reeves

Overview

- U.S. cosmetics maker Estée Lauder EL.N and Spanish perfumery Puig PUIGb.MC ended merger talks.


- London’s transport authority has raised concerns about congestion and job losses from the rollout of robotaxis in the UK capital, as ministers open applications for operators of the self-driving vehicles for the first time.


- WM Morrison is to shut 100 lossmaking convenience stores in a move that puts hundreds of jobs at risk, as the supermarket blames UK government policy for adding significant cost increases.


- British finance minister Rachel Reeves said she would stop multinationals, including oil and gas firms, from reducing their tax liability by using corporate structures that involve foreign branches.