Financial Times - Nov 19
Nov 19 (Reuters) -The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.
Headlines
- London's Metropolitan police has 'exhausted' its financial buffers
- UK retailers warn Rachel Reeves of £7bn hit from Budget changes
- UK 'exposed' in event of global trade war, warns business secretary
- British Airways flights hit by fresh round of IT problems
Overview
- London's Metropolitan police is facing financial pressure after spending nearly three-quarters of its 443 million pound ($561.28 million) reserve fund since 2022 and depleting one billion pounds in capital raised since 2010 from the sale of property. The force has exhausted its buffers financing both day-to-day operations and ongoing reforms, according to police officials.
- Dozens of large British retailers including Tesco TSCO.L, Boots, Next NXT.L and Marks and Spencer MKS.L have written to British finance minister Rachel Reeves to warn of annual costs to the sector of up to 7 billion pounds following last month's Budget.
- Britain would be heavily exposed to a global trade war, British business minister Jonathan Reynolds has warned, as UK Prime Minister Keir Starmer denied the country will have to choose between the U.S. and Europe if U.S. President-elect Donald Trump brings in fresh transatlantic tariffs.
- British Airways' passengers were hit by widespread disruption on Monday after the airline suffered a fresh I.T. failure. The carrier suffered around four hours of disruption on Monday evening, as the airline said it was "working to resolve a technical issue with some of our systems."
($1 = 0.7893 pounds)
(Compiled by Bengaluru newsroom)
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