PRESS DIGEST- Financial Times - May 21

May 21 (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

- Shell faces shareholder pushback over gas strategy

- Thames Water freezes executives' 'retention payments' after backlash

- Deloitte to cut UK bonuses, pay rises and promotions

- Rayner proposed big tax increases in memo to Reeves

Overview

- A fifth of Shell's SHEL.L shareholders have cast doubt on its strategy to become the world's biggest supplier and trader of gas and LNG, questioning whether it makes sense from an economic or climate perspective.

- Britain's Thames Water has agreed to pause executives' retention payments that were agreed as part of a 3 billion pounds ($4.03 billion) emergency loan after a backlash from the Labour government.

- The Big Four accounting firm Deloitte has told its British employees that it will promote fewer people, reduce the average salary rise, and cut bonuses for the consulting arm, according to an email sent to employees on Tuesday by Richard Houston, chief executive of Deloitte UK.

- Britain's Deputy Prime Minister Angela Rayner proposed eight potential tax rises, including reinstating the pensions lifetime allowance and a higher corporation tax rate for banks in a memorandum to British finance minister Rachel Reeves.

($1 = 0.7452 pounds)