PRESS DIGEST-Financial Times - Oct 6

- British finance minister Kwasi Kwarteng will meet the chiefs of UK's biggest retail banks on Thursday to discuss the market turmoil in the mortgage markets last week following the government's mini-budget. - STMicroelectronics NV will build a 730 mln euro ($723.94 mln) chip materials plant in Italy, the first such project approved as a part of the European Union's bid to boost its chip supplies to become more self-reliant and ease shortages.

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

- Fitch cuts outlook for UK rating to 'negative' https://on.ft.com/3MegNMr - Goldman Sachs seeks to buy cut-price UK pension fund assets https://on.ft.com/3yk9zAJ

- UK finance minister to meet UK bank chiefs over mortgage market turmoil https://on.ft.com/3CBJyj3 - STMicroelectronics to build new chip plant in Italy https://on.ft.com/3V5tehJ

Overview - Ratings agency Fitch cut the outlook on UK's credit rating to "negative" from "stable" on Wednesday, days after a similar move by rival Standard & Poor's, following the government's Sept 23 mini-budget.

- Goldman Sachs Group Inc is among the investors wanting to buy cut-price private assets from UK pension funds, which are looking to raise cash after last week's crisis in the government bond market. - British finance minister Kwasi Kwarteng will meet the chiefs of UK's biggest retail banks on Thursday to discuss the market turmoil in the mortgage markets last week following the government's mini-budget.

- STMicroelectronics NV will build a 730 mln euro ($723.94 mln) chip materials plant in Italy, the first such project approved as a part of the European Union's bid to boost its chip supplies to become more self-reliant and ease shortages. ($1 = 1.0084 euros) (Compiled by Bengaluru newsroom)

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