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Press Release: PRESS DIGEST-British Business - Nov 16

Published 2022-11-16, 07:20 a/m
© Reuters.  Press Release: PRESS DIGEST-British Business - Nov 16

Nov 16 (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 Prime Minister Rishi Sunak at the G20 summit will ask for China's help on the economy, climate change and Ukraine shortly in the first meeting between Chinese President Xi Jinping and a British prime minister for almost five years.

- Shadow banking firms should draw up contingency plans so that they can be safely wound down if they collapse, Britain's Financial Conduct Authority (FCA) Chief Executive Nikhil Rathi has told peers scrutinising the recent turmoil that gripped pension schemes.

The Guardian

- London-based TCI Fund Management has written to Alphabet (NASDAQ:GOOGL) Inc saying staff at the Google and YouTube parent are paid too much and its workforce should be drastically cut back.

- Vodafone Group (LON:VOD) has warned of price rises for UK customers and job cuts as the telecoms company launched a cost cutting plan of about 1 billion euros ($1.03 billion) to cope with soaring energy bills and inflation.

The Telegraph

- Britain's communications regulator, Ofcom is to toughen its rules for phone networks after fraudsters targeted nearly 41 million people using spoof numbers.

- British finance minister Jeremy Hunt is preparing to announce measures to help the long-term sick back into jobs, Hunt is expected to use Thursday's Autumn Statement to warn that labour shortages are fuelling spiralling inflation by reducing the workforce and pushing up wages.

Sky News

- Fosun Tourism Group the Chinese owner of Thomas Cook is exploring the sale of a stake in the famous British holiday brand three years after its ignominious collapse. ($1 = 0.9670 euros) (Compiled by Bengaluru newsroom)

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