Below you will find the most important reports on the business pages of British newspapers. Reuters has not verified these reports and does not vouch for their accuracy.
The time
– UK Finance Minister Rachel Reeves (link) is expected to use the Budget on October 30 to announce plans to introduce social insurance on employers’ pension contributions as she seeks to balance the books.
– Professional services firm Ernst & Young (EY) confirmed (link) that dozens of its employees in the US were fired last week for trying to save time by watching multiple online training courses at the same time.
The Guardian
– Die HSBC HSBA will (link) divide its business into eastern and western markets. This is part of a broader restructuring under new chief executive Georges Elhedery to help cut costs and manage growing geopolitical tensions between China and the West.
– British luxury handbag retailer Mulberry MUL rejected a sweetened 111 million pound ($144.10 million) second takeover offer from Frasers Group on Tuesday (link). BRASS by Mike Ashley and called it “untenable.”
The Telegraph
– (link) The British National Health Service (NHS) will use Eli Lilly’s Alzheimer’s drug donanemab LLY block on Wednesday because it was too expensive for NHS patients.
– Southern Water, which supplies Kent, Hampshire, the Isle of Wight and parts of Sussex, is seeking (link) to increase household bills by more than 350 pounds ($454.37) a year as it claims new environmental laws will make it higher will force spending.
Sky News
– Barclays BARC has (link) negotiations with Brookfield Asset Management BAM on the sale of a stake in its UK payments business to the Canadian asset manager.
– The International Monetary Fund (IMF) raised its forecast for UK growth this year (link) by 0.4 percent to 1.1 percent, the biggest upward revision for an advanced economy.
The Independent
– Around a third of British companies have (link) called on British Prime Minister Keir Starmer to cut post-Brexit bureaucracy to support British trade. The activists speak of “unimagined new layers of bureaucracy.”
(1 dollar = 0.7703 pounds)
