PRESS DIGEST-Financial Times - February 13

* The BBC is ⁠planning to cut hundreds of millions of pounds from its annual budget, leading ⁠to ​job losses and "tough" decisions over future programming, under a new savings plan designed to make the national broadcaster financially ⁠sustainable for the future. * British American Tobacco said it was pursuing "productivity ⁠initiatives" that ⁠could lead to job cuts, as it reported rising profits and said the Velo nicotine ‌pouch was gaining ‌market share.

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

* Schroders agrees 9.9 billion ‌pound takeover by US investment manager Nuveen * Sanofi replaces chief Paul Hudson with Merck executive after R&D woes

* BBC set to cut costs ‌by about 10% in latest restructuring plan * BAT warns of ‌job cuts as it plans to 'simplify' and boost productivity

Overview * Britain's Schroders is being taken over by U.S. asset manager Nuveen for 9.9 billion pounds ($13.47 billion)in ⁠one ​of Europe's largest ⁠ever fund manager deals.

* Sanofi has replaced chief executive Paul Hudson with the ⁠head of German drugmaker Merck KGaA, after the French drugmaker struggled ​to develop new treatments under his leadership. * The BBC is ⁠planning to cut hundreds of millions of pounds from its annual budget, leading ⁠to ​job losses and "tough" decisions over future programming, under a new savings plan designed to make the national broadcaster financially ⁠sustainable for the future.

* British American Tobacco said it was pursuing "productivity ⁠initiatives" that ⁠could lead to job cuts, as it reported rising profits and said the Velo nicotine ‌pouch was gaining ‌market share. ($1 = 0.7348 pounds) (Compiled ​by Bengaluru newsroom)