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PRESS DIGEST-British Business - Oct 25
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PRESS DIGEST-British Business - Oct 25
Oct 27, 2024 5:22 PM

Oct 25 (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

- Retail tycoon Mike Ashley has launched an attempt to

become the Chief Executive of Boohoo, as he pushes for

a possible merger between the troubled fast-fashion retailer and

its rival Asos.

- Thames Water is approaching an agreement with a group of

creditors over a financing package of up to 3 billion pounds

($3.89 billion) as the embattled water supplier attempts to

restructure its debt.

The Guardian

- U.S. chipmaker Intel has won a long-running battle to

quash a fine of more than 1 billion euros ($1.08 billion)

imposed by the European Commission for allegedly abusing its

market dominance in the sale of computer chips.

- UK Chancellor Rachel Reeves is expected to announce extra

government support in her budget next week, including

state-backed loans through the UK export finance mechanism for

firms importing critical minerals like lithium, graphite, and

cobalt.

The Telegraph

- Bank of England Governor Andrew Bailey has warned the UK

government against forcing pension funds to invest in British

assets, stating he would not "for a moment" support the idea of

forcibly making pension funds back British companies.

- British department store retailer John Lewis will teach

customers how to cook at its shops under a new deal with chef

Jamie Oliver, as it steps up plans to reinvigorate its

department stores.

Sky News

- UK Chancellor Rachel Reeves will rewrite the government's

fiscal rules in next week's budget to allow her to increase

borrowing for public investment by around 50 billion pounds

($64.84 billion).

- Britain will ban the sale and supply of single-use vapes

starting on 1 June next year, with legislation to introduce the

ban already laid out in parliament.

The Independent

- Tesco ( TSCDF ), Sainsbury's ( JSNSF ), and fast-food chains

KFC and McDonald's could be in danger of accidentally

breaching new forest-protection laws after climate campaigners

discovered a major UK chicken supplier is linked to a business

accused of deforestation in Brazil.

($1 = 0.7711 pounds)

($1 = 0.9237 euros)

(Compiled by Bengaluru newsroom)

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