PRESS DIGEST-Financial Times - May 17

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

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

- Israeli electric vehicle group REE to build $15mn UK factory https://on.ft.com/39rADV6 - EY accused of basic failings in $2.7bn claim over NMC collapse https://on.ft.com/39YcqpH

- Renault sells Russia business and stake in Lada maker for 2 roubles https://on.ft.com/3FRwDJO - Pension lifeboat fund rules leave 83,000 with no cover for rising UK inflation https://on.ft.com/3wiALzi

Overview - Israeli electric vehicle start-up REE will open a $15 mln production facility in UK and plans to double its workforce in the country, in one of the first manufacturing investments from the new wave of makers.

- Ernst & Young failed to flag a multibillion dollar fraud at FTSE 100 group NMC Health in the years before its 2020 collapse because the auditor did not properly carry out basic checks, according to a $2.7bn legal claim by the hospital operator's administrators. - Renault SA is selling its entire Russian operation including its stake in Lada-maker Avtovaz for 2 roubles, in one of the most significant retreats by a foreign company since the invasion of Ukraine.

- Ministers are being urged to review "grossly unfair" compensation arrangements affecting 83,000 elderly members of the UK's pension lifeboat fund as the cost of living soars. (Compiled by Bengaluru newsroom)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)