November 30, 2021

PRESS DIGEST-British Business – Sept. 25

Sept 25 (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

– Alphabet Inc’s Google is under pressure to crack down on adverts for financial scams online after the UK’s City regulator called on the internet giant on Thursday to “step up to the plate”.

– Telecoms bosses have warned that the UK government risks missing its ambitious target of delivering “gigabit” broadband speeds to all parts of the country by 2025.

The Guardian

– UK’s media regulator Ofcom has launched a review of the BBC audio service, which brings together all the broadcaster’s radio stations and podcasts in a single app and website, over claims that the audio service is damaging competition.

– More than 40 cross-party MPs, including Labour’s Harriet Harman and Conservative Iain Duncan Smith, are backing an amendment to force a vote in parliament on future COVID-19 restrictions amid a brewing revolt among Tory backbenchers over extending emergency laws.

The Telegraph

– UK’s ravaged hospitality industry faces thousands of job losses and a massive wave of closures after bosses warned that Rishi Sunak’s latest rescue scheme will not stop them laying off staff.

– The European Commission warned EU on Thursday that it must wean itself off its dependence on the City of London for access to capital markets and toughen up its financial regulation to prevent a race to the bottom after Brexit.

Sky News

– Britain’s fourth-biggest grocer WM Morrison Supermarkets Plc said on Thursday that it was limiting consumers buying products to reinstate rationing on essential goods after evidence that some customers were stockpiling.

– Hong Kong-based private equity firm LionRock Capital has stepped into the refinancing of British shoe retailer Clarks, as part of talks that could lead to the chain ending two centuries of majority family ownership, Sky News has learnt.

(Compiled by Bengaluru newsroom)

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