PRESS DIGEST- Financial Times - July 7

- HSBC is in advanced talks to sell its Russian corporate lending business to Expobank, as many major banks exit the country. - British online electricals retailer AO World said on Wednesday it intends to raise about 40 million pounds ($47.69 million) through a placing and a primarybid offer.

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

- GSK investor support for spin-off vindicates rejection of Unilever bid, says chief https://on.ft.com/3ymjvsN - BA to cut another 10,300 flights escalating airline disruption https://on.ft.com/3bOb161

- HSBC closes in on deal to sell Russian business to Expobank https://on.ft.com/3Iln9Ib - AO World plans £40mn capital raise after sharp share price fall https://on.ft.com/3yIAirn

Overview - GlaxoSmithKline's chief executive, Emma Walmsley, on Wednesday said a shareholder vote in favour of co's consumer healthcare business spin-off had vindicated it's decision to turn down a takeover bid from Unilever.

- British Airways, owned by IAG, on Wednesday said it will cancel 10,300 more short-haul flights up to the end of October, pointing to disruptions at airports over the summer holidays. - HSBC is in advanced talks to sell its Russian corporate lending business to Expobank, as many major banks exit the country.

- British online electricals retailer AO World said on Wednesday it intends to raise about 40 million pounds ($47.69 million) through a placing and a primarybid offer. ($1 = 0.8387 pounds) (Compiled by Bengaluru newsroom)