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PRESS DIGEST- British Business - Nov 10

Published 10/11/2015, 11:42 am
Updated 10/11/2015, 11:50 am
© Reuters.  PRESS DIGEST- British Business - Nov 10
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Nov 10 - 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

Under rules published Monday by the Swiss-based Financial Stability Board, the most systemically important banks, including British lenders such as Barclays Plc BARC.L and HSBC Holdings Plc HSBA.L , will have to raise almost 800 billion pounds ($1.21 trillion) by 2022 in an attempt by regulators to prevent taxpayers having to bail out failed lenders.

BHP Billiton Plc BLT.L faces a $1 billion clean-up operation after the collapse of two tailings dams at the Samarco iron ore mine in Brazil, in what looks likely to be the worst industrial disaster to involve a British company in a generation.

The Guardian

Under the headline "We're Working to Make Things Right", Volkswagen (DE:VOWG) on Monday launched a webpage where Volkswagen owners can enter their vehicle identification numbers and learn whether they qualify to receive up to $1,000 to compensate them for their unwitting role in one of the worst car scandals in history.

Alton Towers, owned by Merlin Entertainments Plc MERL.L is to make up to 190 redundancies after a downturn in visitor numbers at the Staffordshire-based attraction in the wake of a serious rollercoaster crash in June.

The Telegraph

The Organisation for Economic Co-operation and Development (OECD) has urged George Osborne to rethink cuts that will disproportionately hit the poor, as it trimmed its world growth forecasts and warned that trade was slowing to a pace usually associated with a global recession. (http://bit.ly/1Pyyzrh)

Business rates and the national living wage risk crushing Tesco Plc TSCO.L , the supermarket's chief executive, Dave Lewis, has warned, as the extra costs amount to a "potentially lethal cocktail".

Sky News

The Confederation of British Industry has been drawn into a row with a group campaigning to leave the EU which accused it of being "the voice of Brussels". Vote Leave said the business lobby was "more interested in promoting the EU than fighting for what is good for Britain".

The Independent

Discounts will win over price-wary customers as Black Friday is set to attract one in five British shoppers, becoming more popular than the week prior to Christmas according to a new poll among 3,458 adult consumers from Australia, Canada, New Zealand, the UK and the US, by analytics provider SAS.

Discount supermarkets have topped the sixth annual Global Brand Simplicity Index. While Aldi comes first on the global index for the third year running, Lidl has topped the list in the UK, according to a study by global brand strategy, design, and experience consultancy Siegel + Gale.

($1 = 0.6615 pounds)

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