PRESS DIGEST- Financial Times - May 8

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

May clings to latest Brexit target as hope of cross-party deal fades https://on.ft.com/2J94Fie UK financial watchdog seeks changes to mortgage advice rules https://on.ft.com/2J7UpGO BHP faces $5bn lawsuit in UK over 2015 Brazil dam disaster https://on.ft.com/2J2XTdG

Overview Britain set Aug. 1 as its new exit day and said it would have to take part in this month's European elections as Prime Minister Theresa May's hopes of an early cross-party Brexit deal with Labour faded on Tuesday. The British Financial Conduct Authority proposed new rules on Tuesday to change those covering mortgage lenders and brokers, after the chief financial watchdog found that its regulations were damaging competition.

Anglo-Australian mining giant BHP is facing a landmark $5 billion damages claim in England over allegations that it disregarded warnings prior to the deadly collapse at the Samarco iron ore mine in Brazil. (Compiled by Bengaluru newsroom)