PRESS DIGEST- Financial Times - May 19

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

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 government reveals long-awaited 1 billion pound semiconductor strategy - UK water companies told to put 'consumers above profits' - UK awards first round of carbon storage licences - Rishi Sunak rules out coalition with Democratic Unionists after next election

Overview The UK government will offer chip companies up to 1 billion pounds ($1.26 billion) over the next decade aimed at boosting Britain's resilience in a sector that has suffered from severe supply chain disruptions and faces the spectre of worsening geopolitical tensions.

The UK government has told water companies to put "consumers above profits" after the industry admitted that households would be asked to foot the bill for a 10 billion pound investment programme to cut sewage spills. Twelve companies were awarded a total of 20 licences to develop carbon dioxide storage offshore, in Britain's first licensing round for such projects, the North Sea Transition Authority (NSTA) said on Thursday.

Rishi Sunak has ruled out a coalition with Northern Ireland's Democratic Unionist party after the next general election, shutting down a potential route for the UK’s Conservative prime minister to retain power. ($1 = 0.7923 pounds) (Compiled by Bengaluru newsroom)