PRESS DIGEST- Financial Times - May 29

May 29 (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

- Shein shifts focus from London to Hong Kong for listing

- Nissan plans $7 billion fundraising with British government backing

- Musk's xAI agrees Telegram tie-up

- UK confirms powers to force pension funds to back British assets

Overview

- Shein is considering swapping London for Hong Kong as the location for its long-planned stock market listing 18 months after it fired the starting gun on the flotation process.

- Nissan 7201.T is seeking a British government-backed loan to support its Sunderland plant as part of plans to raise close to 1 trillion yen ($6.86 billion) from asset sales and debt markets.

- Elon Musk's AI startup xAI will pay Telegram $300 million to deploy its Grok chatbot on the messaging app, aiming to tap the platform's more than one billion users.

- British finance minister Rachel Reeves has confirmed she will create a "backstop" power to force large pension funds to back British assets, as she vowed to pump more than 50 billion pounds ($67.19 billion) of investment into British businesses and infrastructure.

($1 = 145.8200 yen)

($1 = 0.7442 pounds)