PRESS DIGEST-Financial Times - October 17

Reuters has not verified these stories and does not vouch for their accuracy. - British Finance Minister Rachel Reeves has acknowledged that British banks face higher taxes than in some rival jurisdictions as she vowed to maintain a "competitive environment" in the face of heavy lobbying from banks not to launch a fresh tax raid. - German Chancellor Friedrich Merz has called for the establishment of a single European stock exchange, signalling German support for plans to unify the bloc's capital markets.

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

- Johnson & Johnson sued for 1 billion stg in UK over talc cancer claims - China attacks UK efforts to 'smear and defame' it over spy case

- Rachel Reeves insists she wants 'competitive environment' for UK banks - German Chancellor Friedrich Merz calls for single European stock exchange

Overview - Johnson & Johnson is being sued in Britain over claims that its talcum powder caused cancer, adding further legal strain on the group already battling a long-running litigation in the U.S. over the same product.

- Beijing has condemned evidence released by British Prime Minister Keir Starmer from an alleged Chinese espionage case, denouncing "British politicians' attempts to smear and defame China". - British Finance Minister Rachel Reeves has acknowledged that British banks face higher taxes than in some rival jurisdictions as she vowed to maintain a "competitive environment" in the face of heavy lobbying from banks not to launch a fresh tax raid.

- German Chancellor Friedrich Merz has called for the establishment of a single European stock exchange, signalling German support for plans to unify the bloc's capital markets. (Compiled by Bengaluru newsroom)