British Business - Nov 7
Nov 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
- AstraZeneca AZN.L said on Wednesday its China president Leon Wang had been detained by Chinese authorities, and although it did not know the reason, it did not believe it was linked to a large health insurance fraud case involving the company.
- Billionaire Mike Ashley-owned Frasers FRAS.L, the top investor in Boohoo BOOH.L, has urged the British online fashion retailer to "publicly confirm" that no asset disposals are conducted without prior shareholder approval.
The Guardian
- British finance minister Rachel Reeves has committed not to increase taxes at Labour's next budget and said the government would need to "live within the means" of her spending plans if public services came under mounting pressure.
- The introduction of the Single Trade Window, which is designed to reduce friction for traders moving goods in and out of Britain, and a key part of the UK's post-Brexit border strategy, will now be halted until 2026.
The Telegraph
- Pub group J D Wetherspoon JDW.L said on Wednesday that measures in Britain's recent budget would increase its taxes and business costs by 60 million pounds ($77.34 million) for its current year, but it had no immediate plans to raise prices.
- British finance minister Rachel Reeves said on Wednesday that she believed trade flows between Britain and the United States would continue despite proposals by U.S. President-elect Donald Trump to impose tariffs on U.S. imports.
Sky News
- Germany's ruling coalition collapsed on Wednesday as Chancellor Olaf Scholz sacked his finance minister and paved the way for a snap election.
- Ireland plans to hold a general election on Nov. 29, Prime Minister Simon Harris said on Wednesday, as his centre-right coalition bids to capitalise on a popular budget and a dramatic slide in support for opposition left-wing nationalists Sinn Fein.
The Independent
- The Bank of England is likely to cut interest rates on Thursday for only the second time since 2020 but the big question for investors is whether the BoE sends a signal about its subsequent moves after the government's inflation-raising budget.
($1 = 0.7758 pounds)
(Compiled by Bengaluru newsroom)
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