PRESS DIGEST-Financial Times - May 20

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

* US to cut troops in ‌Europe to lowest level since before Ukraine invasion * Power from Sizewell C will be more expensive than Hinkley Point, says UK watchdog

* Morgan ‌Stanley issues China-only iPhones to its Hong Kong bankers * UK ‌considers levying ‘oligarch premium’ on overseas buyers of expensive homes

Overview * The Pentagon said on Tuesday that it would reduce the number of U.S. soldiers stationed in ⁠Europe to ​levels last ⁠seen before Russia’s full-scale invasion of Ukraine.

* Electricity from the Sizewell C nuclear ⁠project is set to be more expensive than power from Hinkley Point, ​even though the Suffolk plant is cheaper to build, Britain’s ⁠public spending watchdog has said. * Morgan Stanley has given its entire Hong Kong investment ⁠banking ​team special devices to use in mainland China, in a sign of rising concerns over data compliance for staff travelling ⁠to the country.

* British Finance Minister Rachel Reeves is considering levying an “oligarch ⁠premium” ⁠on top of a new mansion tax that would see non-UK resident property owners forced to pay ‌more ‌for the country’s most expensive homes. (Compiled ​by Bengaluru newsroom)