PRESS DIGEST- Financial Times - June 1

-The UK and EU have agreed a co-ordinated ban on insuring ships carrying Russian oil, shutting Moscow out of the vital Lloyd's of London insurance market and sharply curbing its ability to export crude, according to British and European officials. -Elliott Management has agreed to sell Italy's AC Milan football club to US investment group RedBird Capital in a 1.2 billion euro ($1.29 billion) deal that ends the firm's four-year foray into the business of sport, said people close to the club.

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

-Credit specialist CQS shuts internal fund following outflows https://on.ft.com/3x2cU62 -Airlines warn disruption at UK airports likely to continue into summer https://on.ft.com/3t38kU7

-UK and EU hit Russian oil cargoes with insurance ban https://on.ft.com/3afThjq -Elliott to sell Italy's AC Milan football club to RedBird for €1.2bn https://on.ft.com/3a9YtoQ

Overview - London based asset management firm CQS on Tuesday said that the directors of the CQS Diversified Fund had voted to wind it down, according to a person familiar with the situation.

- Airlines fear that disruption at UK airports will continue into the summer as the travel industry struggles to deal with growing passenger numbers, and flight delays and cancellations accumulate. -The UK and EU have agreed a co-ordinated ban on insuring ships carrying Russian oil, shutting Moscow out of the vital Lloyd's of London insurance market and sharply curbing its ability to export crude, according to British and European officials.

-Elliott Management has agreed to sell Italy's AC Milan football club to US investment group RedBird Capital in a 1.2 billion euro ($1.29 billion) deal that ends the firm's four-year foray into the business of sport, said people close to the club. ($1 = 0.9318 euros) (Compiled by Bengaluru newsroom)