British Business - Oct 23
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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