May 17, 2018 / 12:35 AM / 3 months ago

PRESS DIGEST- Financial Times - May 17

May 17 (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

Big Four accountancy firms plan for forced break-up on.ft.com/2rLImVh

UK digital technology sector outpacing wider economy on.ft.com/2rLDHCK

TfL operating deficit worsens by 26 pct to 1 bln stg on.ft.com/2KuT9u0

Rajan says he won't apply to be BoE governor on.ft.com/2Ku5bUr

Overview

The Big Four accountancy firms— KPMG, Deloitte, EY and PwC — have drawn up contingency plans for a break up of their UK businesses after pressure for a forced split rises following high-profile corporate collapses that have called into question the quality of their work as both auditors and consultants for the largest British companies.

Britain’s digital technology sector is growing faster than the economy as a whole and spreading beyond the south-east and big regional cities, according to an annual report compiled by the state-funded advocacy body Tech Nation.

Transport for London said its full-year operating deficit widened by 26 percent to 1 billion pounds ($1.35 billion) after its government grant was cut and passenger numbers fell.

Former Reserve Bank of India governor Raghuram Rajan said at an event on Wednesday he would not apply to become governor of the Bank of England when the vacancy is advertised later this year.

$1 = 0.7382 pounds Compiled by Bengaluru newsroom; Editing by Sandra Maler

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