Press Digest-Financial Times - July 15

BP has cut its net debt by up to 13% after getting a boost to its profits from higher prices of oil and refined products connected to the Iran war.

The ECB said that Germany's Deutsche Bank and DZ Bank, alongside France's Groupe BPCE, were among 36 companies selected to help test the digital currency next year.

The European Commission will this week propose to lower capital requirements for some banks as Brussels moves to follow loosening of regulation in the US and the UK.

Lucid has brought in consultants to help revive the struggling Saudi-owned electric-car maker but denied reports that the advisers had "recommended bankruptcy".