PRESS DIGEST- Financial Times - Nov. 8

- France's financial prosecutor has opened a preliminary investigation of pharmaceutical group Sanofi over allegations of market manipulation related to the launch of its hit drug Dupixent in 2017. - Cravath, Swaine & Moore, the elite U.S. law firm that has customarily set the pay standard for its peers, has established a non-equity partner tier, in a departure from its traditional structure designed to reward star lawyers targeted by rivals.

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

- FRC waters down UK boardroom reforms after government shift - BlackRock set to invest $550 mln in Occidental direct air capture project

- French prosecutors examine claims of market manipulation against Sanofi - Cravath creates non-equity partner tier as it seeks to retain legal talent

Overview - Britain's accounting watchdog Financial Reporting Council has abandoned most of its overhaul of boardroom rules, a move it says protects competitiveness but which critics say marks the unravelling of long-promised corporate governance reforms.

- BlackRock is set to invest $550 million into the world's biggest direct air capture project, which is being developed by Occidental Petroleum, in a sign of growing investor confidence in the nascent technology. - France's financial prosecutor has opened a preliminary investigation of pharmaceutical group Sanofi over allegations of market manipulation related to the launch of its hit drug Dupixent in 2017.

- Cravath, Swaine & Moore, the elite U.S. law firm that has customarily set the pay standard for its peers, has established a non-equity partner tier, in a departure from its traditional structure designed to reward star lawyers targeted by rivals. (Compiled by Bengaluru newsroom)