PRESS DIGEST-British Business – May 4

May 4 (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 – Former employees of the Bank of England, the institution responsible for controlling inflation, may soon be the […]

May 4 (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

– Former employees of the Bank of England, the institution responsible for controlling inflation, may soon be the only pensioners in the country more than fully insulated from the cost-of-living crisis. https://bit.ly/3MP9IkB

– The boss of Brewdog, James Watt, is to give 100 million pounds ($124.92 million) of shares to staff and hopes to lead the business for years to come. https://bit.ly/3w0rx9y

The Guardian

– Cuts to UK’s rail funding could lead to more serious rail accidents as well as fewer, more crowded trains, rail unions have said. https://bit.ly/3kF1PSG

– U.S. private equity group Clayton, Dubilier & Rice has offered to sell 87 petrol station forecourts in an effort to gain the Competition and Markets Authority’s (CMA) approval for its 7 billion pounds ($8.74 billion) takeover of WM Morrison Supermarkets Ltd.

The Telegraph

– BP is poised to expand a major Shetland oil field as it boosts investment in the North Sea to fend off the threat of a windfall tax. https://bit.ly/3FgIC3d

– British Business Secretary Kwasi Kwarteng has accused energy companies of overcharging customers on direct debits to shore up their own finances as millions of households struggle with the cost-of-living crisis. https://bit.ly/38O1kTV

Sky News

– The Pride of Kent, a P&O ferry, has failed an inspection by the Maritime and Coastguard Agency (MCA) for the third time. https://bit.ly/3vFTyEq

– Haleon, the company that will be created from the demerger of GlaxoSmithKline’s consumer products arm is in talks to hire a roster of investment bankers. https://bit.ly/3kERVAK

The Independent

– Struggling UK households will increasingly use credit cards to cover bills and essential purchases as living costs rise sharply this year, according to a new report. https://bit.ly/383xQBl

– British Post Office workers at more than 100 branches have walked out during a one-day strike in a dispute over pay. https://bit.ly/3kD0Jak

($1 = 0.8005 pounds) (Compiled by Bengaluru newsroom)

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