PRESS DIGEST- Financial Times - July 25

July 24 (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

Google parent company weighed down by EU fine http://on.ft.com/2eJ0LP9

Departing Telecom Italia CEO gets 25 mln euro payout http://on.ft.com/2eIV1oE

UK Serious Fraud Office probes Rio Tinto payment http://on.ft.com/2eJakxf

HNA's mystery shareholder passes stake to charity http://on.ft.com/2eJ6DrJ

Overview

Alphabet Inc profits fell by more than a quarter after it was hit by a $2.7 billion fine by the European Commission, triggering the biggest decline in the internet group's net income since 2008.

Flavio Cattaneo, who stepped down as chief executive of Telecom Italia SpA over the weekend amid reports of a clash with majority shareholder Vivendi SA, will receive a 25 million euro payout, the company said on Monday.

The UK's Serious Fraud Office has launched an investigation into a 2011 payment made by Rio Tinto Plc to a consultant working on a controversial iron ore deposit in Guinea.

A restructuring by acquisitive Chinese conglomerate HNA has moved the ownership of a 29.5 per cent stake from a mysterious Chinese investor to a New York-registered non-profit, adding to the questions surrounding the governance of the company. (Compiled by Bengaluru newsroom)