PRESS DIGEST-Financial Times - July 30

- Credit Suisse is preparing legal action against Archegos Capital after an independent report into the bank's $5.5 billion resulting loss revealed the bank had probably been "deceived" by Archegos but that its staff also ignored risks and lacked competence. - U.S. financial group Raymond James has struck a deal to acquire Charles Stanley, making the 229-year-old City of London stalwart the latest UK wealth manager to bow to the pressure for scale in a rapidly consolidating sector.

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

- UniCredit enters exclusive talks to buy Monte dei Paschi https://on.ft.com/3rHHJKa - UK ministers admit only 13% of key worker testing sites are operational https://on.ft.com/2TMwpjE

- Credit Suisse prepares legal action against Archegos https://on.ft.com/3BUHksH - Raymond James strikes deal to acquire Charles Stanley for £279m https://on.ft.com/3fcYxUt

Overview - UniCredit said on Thursday it would hold exclusive talks with Italy's government over Monte dei Paschi , a move that could see the Tuscan lender return to private ownership four years after it was rescued by the state.

- British government on Thursday admitted that only 13% of the 2,000 testing sites for key workers excluded from COVID-19 self-isolation rules were operational, as the number of people "pinged" in the latest seven-day period by the NHS Covid-19 app in England and Wales hit a new record. - Credit Suisse is preparing legal action against Archegos Capital after an independent report into the bank's $5.5 billion resulting loss revealed the bank had probably been "deceived" by Archegos but that its staff also ignored risks and lacked competence.

- U.S. financial group Raymond James has struck a deal to acquire Charles Stanley, making the 229-year-old City of London stalwart the latest UK wealth manager to bow to the pressure for scale in a rapidly consolidating sector. (Compiled by Bengaluru newsroom)