PRESS DIGEST- Financial Times - May 7

Headlines

* Michelin buys Scottish online tyre retailer Blackcircles for 50 mln pounds (http://on.ft.com/1KMWQWp)

* Standard Chartered to stop advising on Australian mining project (http://on.ft.com/1dOjCSW)

* Shareholders approve BHP Billiton spin-off of South32

(http://on.ft.com/1P1CVZJ)

Overview

France-based tyre manufacturer Michelin has bought Blackcircles.com , a small Scottish online tyre company, for 50 million pounds ($76.22 million).

Chairman of Standard Chartered Plc has said the bank will stop its role as a financial adviser on a big coal mine located in Australia until it can ascertain claims that the project will threaten the Great Barrier Reef.

Investors in BHP Billiton Plc have voted in favour of splitting the Anglo-Australian company into two by spinning off a new metals producer. The move, one of the most significant restructurings in the sector, is in response to a less profitable period for the industry and is in line with the company's effort to divest unwanted assets. ($1 = 0.6560 pounds) (Compiled by Shivam Srivastava in Bengaluru; Editing by Ken Wills)