PRESS DIGEST- Financial Times - May 16

May 16 (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

- BT to carve out new 'international' unit as group refocuses on UK

- Aviva boss Amanda Blanc insists Direct Line takeover will not harm competition

- Sheikh Tahnoon's IHC nears deal for stake in Richard Caring's Ivy hospitality empire

- England's drug approval body resists pharma pressure to loosen processes

Overview

- BT BT.L is set to create a new standalone international unit, as chief executive Allison Kirkby continues to consider a potential sale of the telecoms group's non-UK operations.

- Aviva AV.L CEO Amanda Blanc has defended the insurer's 3.7 billion pounds ($4.93 billion) Direct Line DLGD.L takeover, insisting it would not harm competition, after UK regulators launched a probe into the deal this week.

- Richard Caring is in advanced talks to sell a significant portion of Ivy hospitality to Sheikh Tahnoon's IHC IHC.AD.

- England's drug approval body NICE has resisted pressure from pharmaceutical companies to loosen its process for recommending drugs and is pressing instead for the NHS to speed up the rollouts of approved medicines.

($1 = 0.7511 pounds)