September 20, 2017 / 12:09 AM / a month ago

PRESS DIGEST- Financial Times - Sept 20

Sept 20 (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

KPMG faces client revolt in South Africa on.ft.com/2xfsBrn

Alphabet looks for land to build experimental city on.ft.com/2fho1V1

Activist group doubles Clariant stake as it seeks to stop merger on.ft.com/2hf5Obl

Theresa May prepares 20 billion euros EU budget offer on.ft.com/2xdjEB6

Overview

At least three audit contracts were lost by KPMG in South Africa as it faces widespread client reviews after it got involved in a high-profile political scandal involving South Africa’s billionaire Gupta family.

In an attempt to prove that a technologically enabled urban environment can improve quality of life, Google’s parent company Alphabet Inc is working on a plan to build a city from the ground up, the executive in charge of its urban innovation business said on Tuesday.

The activist investor fighting Clariant AG has increased its stake to 15.1 percent in the Swiss chemicals group and repeated that it demands to drop the $20 billion planned tie-up with Huntsman Corp of the United States.

The British government has told German Chancellor Angela Merkel to expect Theresa May to offer this week to fill a post-Brexit European Union budget hole of at least 20 billion euros ($23.98 billion), this week.

$1 = 0.8340 euros Compiled by Bengaluru newsroom; Editing by Sandra Maler

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