PRESS DIGEST-Financial Times - May 25

- Citigroup Inc has said it will spin off its Mexican retail bank through an initial public offering, abandoning a plan hatched early last year to sell the unit. - The European Union has discussed sending Ukraine the profits generated by billions of euros of Russian assets that are stuck inside the plumbing of global financial 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

- UK to announce funding boost for life sciences - Chinese group has hacked critical US infrastructure, Microsoft warns

- Citigroup abandons long-planned sale of Banamex to pursue IPO - EU discusses plan to send profits from €196.6bn of frozen Russian assets to Ukraine

Overview - The UK government is investing in mining health data and increasing the domestic manufacturing of vaccines and drugs.

- Microsoft Corp has warned that a state-sponsored Chinese hacking group has compromised "critical" infrastructure in the US. - Citigroup Inc has said it will spin off its Mexican retail bank through an initial public offering, abandoning a plan hatched early last year to sell the unit.

- The European Union has discussed sending Ukraine the profits generated by billions of euros of Russian assets that are stuck inside the plumbing of global financial markets. (Compiled by Bengaluru newsroom)