PRESS DIGEST- Financial Times - May 10

May 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

John Lewis falls foul of minimum wage rules

http://on.ft.com/2px4XSk

Elliott Advisors takes legal action to oust Akzo Nobel chairman

http://on.ft.com/2pwD1OI

Greenberg loses battle over damages related to AIG bailout

http://on.ft.com/2pwGj4y

Noble warns of $130 mln first-quarter loss

http://on.ft.com/2pwnwq8

Overview

British retailer John Lewis said it has set aside 36 million pounds ($46.56 million) to cover possible costs as it may have breached UK wage rules, a potential embarrassment for a company lauded for the way it treats its staff.

Elliott Advisors, the hedge fund that has been pushing Dutch paint maker Akzo Nobel to enter takeover talks with U.S. rival PPG Industries, said it has begun legal proceedings to try to oust Akzo Chairman Antony Burgmans.

A federal appeals court threw out a ruling that the U.S. government illegally bailed out insurer American International Group Inc during the 2008 financial crisis, in a defeat for former chief executive officer Maurice Greenberg.

Noble Group has said it will likely slump to record a $130 million loss for the first quarter in the latest blow to investors in the struggling commodity trader. ($1 = 0.7733 pounds) (Compiled by Bengaluru newsroom; Editing by Sandra Maler)