Press Digest: British Business - Nov 17
17/11/2023 01:05
Nov 17 (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
- The Bank of England could lower interest rates as soon as
February, economists at Goldman Sachs have said.
- Poor quality of service and defecting customers have
plunged Royal Mail deeper into the red, prompting its new boss
to demand that the government scraps its privatisation
commitment to a universal six-day service.
The Guardian
- Large parts of the Port Talbot steelworks will be closed
or mothballed for years, and would leave the plant reliant on
imported steel, according to proposals under consideration by
the owner, Tata Steel TISC.NS .
- The UK government will offer significantly higher
subsidies for new offshore windfarms after crisis talks with
developers that are battling cost inflation across global energy
supply chains.
The Telegraph
- The Bank of England's decision to sell-off government
bonds is costing taxpayers 15 billion pounds ($18.62 billion) a
year and squeezing Jeremy Hunt's room to cut taxes, a top
investment bank has warned.
- Britain's Hotel Chocolat HOTC.L agreed to a 534 million
pound ($662 million) takeover offer from Mars Inc, as the
specialist chocolatier succumbs to the U.S. food giant to help
it grow internationally, netting its founders a tidy profit.
Sky News
- The UK government has announced plans to remove benefits
and step up monitoring of welfare recipients in an effort to
bring more people into work.
($1 = 0.8058 pounds)
(Compiled by Bengaluru newsroom)
((globalnewsmonitoring@thomsonreuters.com))