PRESS DIGEST- Financial Times - May 13

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

Treasury sets out stark UK budget options for tackling COVID-19 https://on.ft.com/2SYCyFO Britain's housing market set for comeback https://on.ft.com/2T0zRmX

Sale of Agnelli insurer PartnerRe to Covéa collapses https://on.ft.com/2yQfd29 Anil Agarwal launches $2bn buyout bid for Vedanta https://on.ft.com/2WSZBTl

Overview UK ministers will have to raise taxes sharply in the coming months to deal with an estimated 337 billion pounds ($413.23 billion) deficit in the current financial year in the wake of the COVID-19 pandemic, according to a leaked Treasury document.

Buying and selling houses is set to return again after seven weeks of gridlock when Britain went into lockdown as new regulations on UK housing are set to come into force on Wednesday. A planned $9 billion acquisition of Bermuda reinsurer PartnerRe, which is owned by Italy's Exor NV, has collapsed after France's Covéa said it was no longer willing to go ahead on the terms agreed in March with Exor.

Vedanta Group Chairman Anil Agarwal has launched a $2 billion-plus bid to buy out minority shareholders in the company's Indian unit Vedanta Ltd. ($1 = 0.8155 pounds) (Compiled by Bengaluru newsroom)