PRESS DIGEST- Financial Times - June 3

The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines

UK must spend 68 billion pounds to modernise military, defence review suggests EU restricts Chinese medical devices in new trade dispute

Saudi Aramco raises $5 billion in bond sale as it grapples with lower oil prices Merck held talks to buy Swiss biotech MoonLake for more than $3bn

Uber brings back chief operating officer role as Khosrowshahi loosens grip Overview

Britain will need to spend about 68 billion pounds ($92.02 billion) to prepare its armed forces for modern warfare, a long-awaited strategic defence review suggests. The EU has decided to restrict imports of Chinese medical devices in retaliation for Beijing's alleged discrimination against foreign manufacturers in bids for public contracts.

Saudi Aramco, the world's largest oil company, said on Monday it had raised $5 billion in a bond sale as it positions for a downturn in oil prices and prepares for further borrowing. Merck has held talks over a more than $3 billion acquisition of Swiss biotechnology group MoonLake Immunotherapeutics.

Uber has appointed its first chief operating officer since 2019, as chief executive Dara Khosrowshahi shakes up senior leadership. ($1 = 0.7389 pounds) (Compiled by Bengaluru newsroom)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)