November 29, 2022
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PRESS DIGEST-British Business – Oct 24

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Oct 24 (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

– Boris Johnson pulled out of the Conservative leadership contest, paving the way for Rishi Sunak to become Britain’s next prime minister.

– Central banks and regulators should loosen rules relating to collateral demands after the UK’s pension fund crisis to prevent further blow-ups in the financial sector, ratings agency S&P Global has warned.

The Guardian

– Britain’s data watchdog has fined the construction group Interserve 4.4 million pounds ($5.00 million) after a cyberattack that enabled hackers to steal the personal and financial information of up to 113,000 employees.

– Online fashion retailer ASOS Plc is poised to confirm as soon as Monday that the billionaire retailer Mike Ashley has built up a stake of more than 5% in the company.

The Telegraph

– A post-Brexit overhaul of red tape will boost the fortunes of London’s tech industry and allow the City to beat international rivals despite political turmoil and the inflation crisis, the boss of IBM UK Sreeram Visvanathan has said.

Sky News

– Dietrich Mateschitz, the Austrian billionaire co-founder and owner of Red Bull, has died aged 78 after a serious illness with cancer.

($1 = 0.8804 pounds) (Compiled by Bengaluru newsroom)



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