November 29, 2022
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PRESS DIGEST-British Business – Oct 7

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Oct 7 (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

– The Prince and Princess of Wales arrived in Northern Ireland for their first engagement there since the death of the Queen as they take on greater challenges and responsibilities under their new titles.

– The Bank of England was forced to intervene in the bond market last week to avoid a meltdown that would have led to a 50 billion pound ($55.75 billion) firesale of gilts that risked spiralling into a full-blown economic crisis.

The Guardian

– GP services, a cancer care and mental health treatment provider, may face cuts because of a National Health Service (NHS) budget shortfall of up to 7 billion pounds ($7.80 billion) next year, the health service’s finance chief said.

– A senior adviser in Biden administration has urged the United Kingdom not to cause more “flare ups” over Northern Ireland as Brexit talks reopen in London.

The Telegraph – Royal Mail rushed forward the monthly payment into its pension scheme to help prevent a cash crunch, after the mini-Budget sent crucial money markets into a tailspin. – Brexit-backing Conservatives who supported Boris Johnson will be appointed to the House of Lords within days to reduce the chances of Tory legislation being defeated.

Sky News

– United Kingdom’s biggest mortgage lenders will urge the chancellor to extend a government home loans initiative which helps first-time buyers get onto the property ladder

– National Grid’s Electricity System Operator (ESO) warned that planned three-hour power blackouts could be imposed in some areas of the United Kingdom, in the “unlikely” event supplies of gas fall short of demand.

($1 = 0.8969 pounds) (Compiled by Bengaluru newsroom)



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