PRESS DIGEST- Financial Times - May 12

May 12 (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

* Glencore hires bulk of Noble's London gasoline team

(http://bit.ly/1Wqynip)

* Javid weighs 2.5-bln-pound trim for British Steel pension

fund

(http://bit.ly/1X1Y7AB)

* Owners of 100,000 UK properties held by offshore groups

face being identified (http://bit.ly/1X2bwbO)

* Treasury makes Brexit contingency plans

(http://bit.ly/1rGTwID)

Overview

* Switzerland-based Glencore has hired gasoline traders from Hong Kong-based commodity house Noble Group , making it second time in three months after it previously hired Noble's liquefied natural gas traders in February.

* The government is planning to protect British Steel pension fund and cut 2.5 billion pounds ($3.61 billion) off its long-term liabilities in a bid to make Tata Steel UK operations more attractive to bidders.

* UK PM David Cameron has announced a transparency proposal under which the foreign companies, with more than 100,000 UK properties, will have to reveal their true owners.

* The Treasury has started contingency planning for the impact on Britain's financial stability in the event of a vote to leave the EU, Chancellor George Osborne told MPs on Wednesday.

($1 = 0.6928 pounds) (Compiled by Bhanu Pratap in Bengaluru; Editing by Sandra Maler)