Press Digest: Financial Times - October 8

HSBC Holdings

08/10/2026 03:03

Oct 8 (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
- HSBC plans sweeping job cuts across UK wealth business in AI push
- Mike Ashley's Frasers Group snaps up stake in Under Armour 
- Royal Mail to cut 2,500 jobs to fund £500 million delivery improvement plan
- Porsche to raise top model prices by 20%

Overview
- HSBC HSBA.L is planning sweeping job cuts in its UK wealth management business, drastically reducing its ranks of financial advisers and other specialists as part of a push to use AI to help serve wealthy clients.
- Frasers Group FRAS.L, the UK retailer controlled by tycoon Mike Ashley, has built an almost 10% stake in struggling US sportswear maker Under Armour UAA.N.
- Royal Mail has said it will cut 2,500 jobs as the ailing postal service seeks to reduce costs to fund a £500 million ($660.45 million)plan to improve delivery times. 
- Porsche P911_p.DE will raise the average price of its most expensive models by about 20% by 2030, as the German sports-car maker aims to echo Ferrari's strategy of using exclusivity to boost profits

     
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 (Compiled by Bengaluru newsroom)
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