PRESS DIGEST- Financial Times - Oct. 10

Oct 10 (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

- Clydesdale Bank charged unfair fees to small businesses, High Court told

- Israel's central bank to sell $30 bln of foreign reserves to support shekel

- Metro Bank backs branch model after striking financing deal

- EU regulators to order Illumina to sell $8 bln cancer treatment group

Overview

- Four businesses, which represent a much wider group action of 900 small firms, are suing National Australia Bank and Clydesdale Bank for charging unfair break fees on loans sold to small businesses.

- The Bank of Israel said on Monday it plans to sell up to $30 billion of dollar reserves to support the shekel after the market fallout from Hamas' attacks, however, despite the central bank's announcement shekel slumped to a seven-year low against the dollar, weakest level since 2016.

- After striking a financing deal that will give the UK challenger bank breathing space and fill a capital hole that had prompted talks with regulators, UK's Metro Bank has insisted that its branch-based model is the right one.

- EU regulators will order US biotech Illumina to sell cancer test developer Grail after it bought the $8bn company without the approval of Brussels, a step intended to deepen the punishment for Illumina after Brussels fined the world's largest gene-sequencing company 432 million euros ($456.80 million) in July for defying what regulators described as a "cornerstone" of their authority. ($1 = 0.9457 euros) (Compiled by Bengaluru newsroom)