PRESS DIGEST-Financial Times - November 5

Nov 5 (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

- BC Partners abandons rescue plan for LIV Golf league

- Sequoia shuts London office as VC firm refocuses on Silicon Valley

- Solvay strikes rare earths deal that will reduce global dependence on China

- China’s critical minerals dominance leaves UK ‘dangerously exposed’, MPs warn

Overview

- Private capital firm BC Partners is dropping its bid to relaunch LIV Golf, the challenger golf league that filed for Chapter 11 bankruptcy in September, leaving the Saudi-backed tour to seek a liquidation of its remaining assets.

- Tech investor Sequoia Capital is closing its European headquarters in London in a setback to the UK’s ambitions to become a major player in the booming AI industry.

- European rare earths refiner Solvay SOLB.BR has struck a deal with Australia's Viridis Mining and Minerals VMM.AX that will allow it to increase supplies for crucial magnet production outside China, calling it an “important step” in diversifying global supply chains.

- Britain remains “dangerously exposed” to the risk of China cutting off access to critical raw materials despite more than a decade of clear warnings over Beijing’s willingness to exploit its dominance over the industry, MPs have warned.