PRESS DIGEST- Financial Times - Dec. 3

Dec 3 (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

- UK watchdog attacks 'inadequate' effort to tackle COVID-19 loan fraud https://on.ft.com/3luN2ek

- UK rejects US linking of steel tariffs and Northern Ireland trading rules https://on.ft.com/3IgoQWH

- Sweeping overhaul of UK listing rules comes into force https://on.ft.com/3pjFgFf

- Shell pulls out of Cambo oil project in UK's North Sea https://on.ft.com/3G9kRcz

Overview

- The British government's measures to prevent fraud in its bounceback COVID-19 loan scheme for small businesses were "inadequate," the National Audit Office said in a report on Friday, adding that the government needed to do more to recoup the estimated 5 billion pounds ($6.65 billion) that was stolen.

- British ministers on Thursday rejected the United States' linking of the lifting of metal tariffs with a dispute over post-Brexit trading rules in Northern Ireland and described it as a 'false narrative'.

- The UK's Financial Conduct Authority has finalised an overhaul of the listing rules that are aimed at making London more attractive to fast-growing companies from technology and biotech sectors.

- Royal Dutch Shell has withdrawn from a contentious oil project in Britain's North Sea, stating on Thursday that the economic case for investment in the project is not strong enough. The project had become a battleground for environmental groups keen to stop the UK developing new oil and gas reserves. ($1 = 0.7520 pounds) (Compiled by Bengaluru newsroom)