Press Digest: British Business - October 30

Lloyds Banking

Today 03:45

Oct 30 (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
— ECB President Christine Lagarde will step down nine months early, paving the way for a possible intervention in France's 2027 presidential election in support of the country's EU membership.
— Lloyds Banking Group LLOY.L criticised the government's decision to double the bank profit surcharge to 6% and urged ministers to reduce borrowing costs to support economic growth.
     
The Guardian
— British finance minister John Healey signalled welfare spending cuts before the next election, as rising sickness and disability benefit costs came under renewed scrutiny.
— DoorDash DASH.O agreed to acquire Instacart for $17 billion, expanding its grocery delivery business while keeping the Instacart brand and app.
        
The Telegraph
— Binance said it was investigating a suspected hack after about $2 billion crypto tokens reportedly flowed from its hot wallets, in what could rank as the largest cryptocurrency theft on record.
— UK Prime Minister Andy Burnham demanded answers from Poundland's owner Gordon Brothers after the retailer filed a notice to appoint administrators, putting thousands of jobs at risk.
     
Sky News
— Shell's SHEL.L third-quarter adjusted earnings doubled to $10.8 billion, helped by stronger margins, higher gas prices and increased gas production.
— Russian President Vladimir Putin said he was prepared for a conflict with Europe but did not want one amid ongoing fighting in Ukraine.
     
     

 (Compiled by Bengaluru newsroom)
 ((globalnewsmonitoring@thomsonreuters.com))