PRESS DIGEST- Financial Times - Dec 5

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

- UK employees to be given more flexible working rights - CBI warns that UK is about to fall into year-long recession

- UK's Labour to set out plans for devolving UK economic powers - UK rail strikes set to go ahead after RMT rejects pay offer

Overview - UK employees will have the right to ask for part-time hours or homeworking arrangements from the first day of a new job under measures to promote flexible working set out by the government on Monday.

- Britain's economy is on course into a year-long recession in 2023 as the "stagflation" combination of rising inflation, negative growth and plummeting business investment weighs on the economy, the Confederation of Business Industry forecast on Monday. - British opposition Labour leader Keir Starmer will on Monday set out plans to devolve economic powers and create a series of growth "clusters", as part of "the biggest ever transfer of power from Westminster to the British people".

- A series of highly disruptive rail strikes in the run-up to Christmas looks all but certain to go ahead after the UK's largest rail trade union on Sunday rejected an improved pay offer intended to resolve its long-running dispute with train operators. (Compiled by Bengaluru newsroom)