Press Digest: British Business - October 8

HSBC Holdings

08/10/2026 03:14

Oct 8 (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 Canadian branch of the billionaire Weston family has agreed to buy the pharmacy chain Boots in an $8.9 billion deal, dashing hopes that it would head for a stock market listing in London.
- Royal Mail is planning to cut up to 2,500 head office and support jobs by the end of next year as it simplifies the business following changes to its nationwide coverage regulations. 
     
     
The Guardian
- Shell's SHEL.L refineries are expected to make record profits on each barrel of fuel produced after shortages in the global market caused pump prices around the world to climb to all-time highs.
- Speaking in Singapore, IMF Managing Director Kristalina Georgieva said global debt-to-GDP ratios were at their highest level since the second world war and on course to hit 100% in the coming years.
     
        
The Telegraph
- Sports car manufacturer Lotus has cut its UK workforce by more than half after US President Donald Trump's tariffs triggered a collapse in sales.
- Porsche PSHG_p.DE is to raise prices by up to £50,000($66,045) as the struggling German luxury brand seeks to go further upmarket. The automotive giant said on Wednesday the 20% increase for its most expensive models would allow it to boost profits while selling fewer vehicles.
     
     
Sky News
- Baillie Gifford US Growth Trust, which holds shares in Elon Musk's SpaceX SPCX.O and is under siege from an American activist, is urging ministers to plead for an overhaul of the City rulebook amid a deluge of campaigns to unseat boards. 
- Ministers are lining up advisers to assess the affordability of Heathrow's £49 billion third runway plan amid growing expectations that it will miss its 2035 completion deadline by four years.
     
The Independent
- HSBC HSBA.L is preparing to cut jobs in its UK wealth management business as part of efforts to ramp up the use of AI to serve wealthy customers more efficiently.
     
     
($1 = 0.7571 pounds)
(1 British pound = $1.3215)

 (Compiled by Bengaluru newsroom)
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