June 7, 2017 / 12:01 AM / a month ago

PRESS DIGEST- Financial Times - June 7

2 Min Read

June 7 (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

* Vivendi firms up offer for Groupe Bolloré’s Havas stake on.ft.com/2rzbIXt

* Burberry slips on worries over sales momentum on.ft.com/2ryY1YJ

* New funding values Pinterest at $12.3 bln on.ft.com/2ryMA2R

* Uber fires more than 20 employees after harassment probe on.ft.com/2ryRTj5

Overview

- Vivendi SA inked a purchase agreement with Groupe Bolloré for its 60 percent stake in Havas SA at 9.25 euros a share. Vivendi intends to make an offer for the remaining stake in Havas, once the deal is finalised.

- Burberry Group Plc had its sharpest sales fall in six weeks. Cost savings are protecting Burberry’s short-term earnings but “luxury stocks work on sales momentum, not cost containment”, argued HSBC, which downgraded the stock to “reduce.”

- Pinterest enhanced its valuation more than 10 percent to $12.3 billion in a new funding round. It closed $150 million of funding from existing investors who include Silicon Valley venture capitalists Andreessen Horowitz and SV Angel, and Wall Street investors Goldman Sachs and Wellington Management.

- Uber Technologies Inc fired more than 20 employees after an investigation into sexual harassment claims.

Compiled by Bengaluru newsroom; Editing by Lisa Shumaker

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