PRESS DIGEST-Financial Times - June 18

Key stories include JLR targeting US millionaires with hybrid and petrol cars, Diageo's restructuring efforts, and billionaire Alex Gerko losing a UK tax appeal.

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

JLR to target US 'millionaires and billionaires' with hybrid and ‌petrol cars Diageo boss Dave Lewis orders executives to cut jobs as restructuring kicks off

Billionaire trader Alex Gerko loses tax appeal at UK Supreme Court Rheinmetall ‌to partner with US satellite group to boost German intelligence capabilities

Overview The ‌boss of Jaguar Land Rover has said there is "no way" the British carmaker will phase out its petrol vehicles as it expands its hybrid offerings to ⁠capture the "biggest ​growth opportunity" in ⁠the US. Diageo's new chief Dave Lewis has instructed his top executives to cut headcount ⁠and other costs in their departments, as the turnaround veteran kicks off ​a significant restructuring of the troubled spirits group.

Billionaire Alex Gerko has ⁠lost a long-running legal battle over the tax treatment of profits made by individual ⁠traders ​with UK's Supreme Court ruling that traders should pay income tax on their share of trading profits, a point that Gerko ⁠had previously argued would result in "massive double taxation". A top provider of commercial ⁠satellite imagery ⁠that was blocked by the US from providing some data services to Ukraine is set to bid with ‌Rheinmetall for ‌contracts to build Germany's intelligence capabilities.

(Compiled ​by Bengaluru newsroom)