PRESS DIGEST- Financial Times - July 7

Reuters2021-07-07

July 7 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

- Lloyds bank launches home rental business

- Binance "temporarily suspends" payments from EU's Sepa network

- Pentagon cancels $10 bln cloud contract awarded to Microsoft

- Nextdoor to go public in $4.3 bln SPAC deal

Overview

- Lloyds Banking Group announces entry into the private rental market, aiming to buy more than 1,000 residential properties by the end of next year as it looks for ways to diversify its income in a period of low interest rates.

- Cryptocurrency exchange Binance will temporarily suspend euro bank deposits from one of Europe's key payments networks, it said in an email sent to users on Tuesday.

- The U.S. Defense Department cancelled its $10 billion JEDI cloud-computing project on Tuesday, reversing the Trump-era award to Microsoft Corp .

- Nextdoor, a social network that connects neighbours, will go public through a merger with a blank-check company backed by Khosla Ventures in a deal valued at $4.3 billion, the companies said on Tuesday.

(Compiled by Bengaluru newsroom)

((globalnewsmonitoring@thomsonreuters.com))

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