PRESS DIGEST- Financial Times - May 24

Roman Abramovich's 4.25 billion pound ($5.34 billion) sale of Chelsea Football Club to a consortium spearheaded by U.S. financier Todd Boehly is expected to be signed off by British ministers on Monday night after weeks of tense negotiations to ensure the oligarch does not benefit from the proceeds. Airbnb will close its domestic business in China this year, removing all listings by the summer and retreating after a years-long push to crack the difficult market.

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

Starbucks to exit Russia over invasion of Ukraine https://on.ft.com/3MJn4PR Chelsea Football Club sale set for UK approval after Abramovich meets "red lines" https://on.ft.com/39PrCW0

Airbnb gives up on China as it shifts focus to outbound travel https://on.ft.com/3sW0pI3 Overview

Starbucks has become the latest consumer brand to pull out of Russia as the wider exodus of multinational companies from the country continues three months after its invasion of Ukraine. Roman Abramovich's 4.25 billion pound ($5.34 billion) sale of Chelsea Football Club to a consortium spearheaded by U.S. financier Todd Boehly is expected to be signed off by British ministers on Monday night after weeks of tense negotiations to ensure the oligarch does not benefit from the proceeds.

Airbnb will close its domestic business in China this year, removing all listings by the summer and retreating after a years-long push to crack the difficult market. ($1 = 0.7959 pounds) (Compiled by Bengaluru newsroom)

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