Press Digest: Financial Times - May 10

MccollS Retail

10/05/2022 02:23

May 10 (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
    - Bank of England rate setter warns UK inflation
'uncomfortably high' https://on.ft.com/37AswVW
    - BAE Systems and Rolls-Royce win 2 bln stg UK nuclear
deterrent contracts https://on.ft.com/3kYI7lb
    - UK Treasury explores replacing capital spending allowance
https://on.ft.com/3vWNmYH
    - Morrisons wins battle for crisis-hit British convenience
group McColl's https://on.ft.com/37vMxg9
    
    Overview
    - Michael Saunders, one of the Bank of England's interest
rate setters has warned that inflation pressures are
"uncomfortably high" and if the central bank fails to rein these
in, it would be "very costly" for the British economy.
    - BAE Systems and Rolls-Royce have won defence contracts
worth more than 2 billion pounds ($2.47 billion) as the UK moves
ahead with the 31 billion programme to renew its nuclear
deterrent.
    - British ministers have launched a consultation into
replacing the temporary capital spending allowance that runs out
next year, as concerns grow about companies' ability to invest
due to the impact of fast rising inflation.
    - Wm Morrison on Monday said it would buy convenience store
chain McColl's out of administration after winning the battle
with a last-minute offer that beat a rival bid from petrol
station operator EG Group.

($1 = 0.8097 pounds)

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