Press Digest: British Business - Oct 23

Mulberry

23/10/2024 05:26

Oct 23 (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
    - British finance minister Rachel Reeves is expected to use
the budget on Oct. 30 to announce plans to impose national
insurance on employers' pension contributions as she seeks to
balance the books.
   - Professional services firm Ernst & Young (EY) confirmed
that dozens of its employees in the U.S. were fired last week
for trying to save time by watching multiple online training
courses at one time. 
    
    The Guardian
    - HSBC  HSBA.L  will divide its operations into eastern and
western markets as part of a major shake-up under its new Chief
Executive, Georges Elhedery, to help cut costs and navigate
rising geopolitical tensions between China and the West.
    - British luxury handbag retailer Mulberry  MUL.L  on
Tuesday rejected a sweetened 111 million pounds ($144.10
million) second takeover proposal from Mike Ashley's Frasers
Group  FRAS.L , calling it "untenable".
        
    The Telegraph
    - Britain's National Health Service (NHS) will block Eli
Lilly's  LLY.N  Alzheimer's drug Donanemab on Wednesday, deeming
it too expensive for NHS patients.
    - Southern Water, which supplies Kent, Hampshire, the Isle
of Wight, and parts of Sussex, is seeking to raise household
bills by more than 350 pounds ($454.37) a year amid claims that
new environmental laws will force it to spend more. 
       
    Sky News
    -  Barclays  BARC.L  has re-entered negotiations with
Brookfield Asset Management  BAM.TO  about a deal to sell a
stake in its British merchant payments business to the Canadian
asset manager.
    - The International Monetary Fund (IMF) has upgraded its
projection for UK growth this year by 0.4% to 1.1%, the largest
upward revision for any advanced economy.
      
    The Independent
    - Around a third of UK businesses have urged Britain's Prime
Minister, Keir Starmer, to cut post-Brexit red tape to support
British trade, with campaigners calling out "unimagined new
layers of bureaucracy".
  
    
($1 = 0.7703 pounds)

 (Compiled by Bengaluru newsroom)
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