Press Digest: Financial Times - May 6

MccollS Retail

06/05/2022 01:53

May 6 (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
    UK ministers retreat from giving new tech regulator
statutory backing https://on.ft.com/38Yt2NO
    McColl's convenience stores on brink of collapse https://on.ft.com/3yhpsZD
    Orbán says EU unity undermined by Russia oil embargo plan https://on.ft.com/3OYZFLD
    Bank of England warns of UK recession this year as it lifts
interest rate https://on.ft.com/3FiVTbu
    
    Overview
    Britain ministers will not legislate in the next
parliamentary session to empower a new technology regulator to
police big tech companies like Facebook  FB.O  and Google
 GOOGL.O , Whitehall officials said on Thursday.
    Convenience store operator McColl's  MCLSM.L  said on
Thursday that it is likely to enter administration, putting up
to 16,000 jobs at risk.
   Hungary's prime minister Viktor Orbán has accused Brussels of
threatening EU unity with its plans to impose an embargo on
Russian oil imports. 
    The Bank of England has warned that UK economy will slide
into recession this year as higher energy prices push inflation
above 10%, a forecast that pushed sterling to a 2-year low.
    

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