PRESS DIGEST- Financial Times – Aug 16

Aug 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 MPs win transparency pledge for Co-op bank inquiry on.ft.com/2KSYD1r BBC opts against appeal in Cliff Richard privacy case on.ft.com/2MQn9SE Uber losses widen after ramping up its spending on.ft.com/2KWVmyq German open-banking start-up raises $100 million on.ft.com/2wbVsN0 Overview The Treasury and the Bank of England have agreed to change the framework on how an independent review into Co-operative Bank will be conducted, in response to pressure from members of parliament. The BBC has decided not to appeal against a landmark privacy judgment after it was successfully sued by veteran singer Cliff Richard for televising a police raid on his house. Uber Technologies Inc’s second quarter adjusted net losses increased to $659 million from $577 million in the first quarter, as rising expenses outpaced revenue growth. Deposit Solutions, a Hamburg-based open-banking start-up founded in 2011, has raised $100 million in a financing round that values the company at more than $500 million.

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