02/12/2022

UDS-Biz

Growing Your Income

PRESS DIGEST-British Business – Oct 4

Oct 4 (Reuters) – The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.

The Times

– Investor fears about Credit Suisse have mounted as credit default swaps (CDS) on the Zurich-based lender’s debt climbed to a record high on Monday and shares in the bank fell by as much as 10% amid mounting speculation about the state of its finances.

– The UK home secretary will announce plans on Tuesday for a law barring anyone who crosses the English Channel from claiming asylum in Britain.

The Guardian

– Great Britain’s energy regulator Ofgem has warned there is a ‘significant risk’ of gas shortages this winter, which could also hit electricity supplies.

– John Lewis PLC has pledged to have “buy back or take back” schemes operating in every product category by 2025 and to develop more rental and resale options as it steps up efforts to be a more sustainable business.

The Telegraph

– UK Prime Minister Liz Truss has confirmed she will build a 25 billion pounds ($28.31 billion) railway between Liverpool and Hull despite mounting pressure on the public finances.

– A prototype nuclear fusion power station will be built at the site of one of the UK’s last coal-burning stations, UK Secretary of State for Business, Energy and Industrial Strategy Jacob Rees-Mogg has announced.

Sky News

– Chancellor Kwasi Kwarteng has confirmed that the government is axing plans to give the wealthiest 1% a tax cut following a bitter backlash.

– Water companies that dump sewage in rivers and seas will face fines of up to 250 million pounds ($283.08 million), UK’s new environment secretary has said.

The Independent

– Vodafone and Three Mobile have sped up talks about a new deal to combine their operations, thought to be completed by the end of the year, creating the biggest player in the phone industry. ($1 = 0.8832 pounds) (Compiled by Bengaluru newsroom)