PRESS DIGEST- Financial Times - July 16

July 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

- Reeves pledges to extend purge of City red tape to rest of UK economy

- Bank of England to find replacement for UK's outdated payment system

- Renault names finance boss Duncan Minto as interim CEO as it cuts margin guidance

- BBC boss Tim Davie admits 'mistakes' after string of scandals

- Staff at UK financial watchdog fight review on increasing office attendance

Overview

- Finance minister Rachel Reeves said Britain has a "culture of risk aversion to the point of obsession with stamping risk out", as she vowed to extend a purge on City of London red tape to the rest of the economy.

- The Bank of England has been handed responsibility for overhauling the UK's retail payments infrastructure to replace the "faster payments system" that was groundbreaking when it was launched in 2008 but is now seen as out of date.

- French carmaker Renault has named finance chief Duncan Minto as interim chief executive as it lowered its annual guidance, citing weaker-than-expected sales in June.

- BBC Director-General Tim Davie has admitted "that the BBC is not perfect and sometimes we make mistakes" but that the national broadcaster "deserves backing" after a bruising few weeks of scandals at the corporation that led to questions over his future.

- Staff at the UK financial watchdog are threatening industrial action if they are told to be in the office more than the current rule of at least 40% of their working days each month.