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PRESS DIGEST-Financial Times - February 14

ReutersFeb 14, 2025 2:34 AM

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

Headlines

- HSBC to unveil $1.5 billion savings as Elhedery's restructuring kicks in

- Elliott builds $4.8 billion stake in BP and seeks big asset sales

- Unilever chooses Amsterdam for primary listing of ice-cream business

- Barclays reveals FCA money-laundering probe and tax fight

Overview

- HSBC HSBA.L is preparing to report $1.5 billion of annual cost savings from the changes implemented under its broad restructuring initiatives on February 19.

- Activist investor Elliott Management has built a near 5% stake in BP BP.L worth almost 3.8 billion pounds ($4.77 billion)and is pushing the oil company to take radical action to transform its performance, including a big divestment programme.

- Unilever's ULVR.L ice-cream business will have a primary listing in Amsterdam rather than London when it is demerged later this year.

- Barclays BARC.L said that it is being probed by the Financial Conduct Authority over alleged lax controls against anti-money laundering and financial crimes.

($1 = 0.7960 pounds)

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