October 1, 2019 / 12:02 AM / 6 months ago

PRESS DIGEST- British Business - Oct 1

Oct 1 - 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

Litigation financing company Burford Capital Ltd has launched action in the High Court seeking to obtain the identities of traders allegedly behind the manipulation of its shares during a recent short attack. bit.ly/2ngMEF8

French Finance Minister Bruno Le Maire has accused the French state-owned company building Britain's new nuclear plant of "unacceptable" failings as he threatened sweeping change at the group and denounced cost overruns and delays in the construction of the Hinkley Point C nuclear reactor in Somerset and similar projects in Flamanville in Normandy and Olkiluoto in Finland. bit.ly/2nZAikS

The Guardian

Prudential Plc has been fined nearly 24 million pound ($29.49 million) for "serious breaches" after failing to advise customers they might get a better deal if they shopped around for annuities and incentivising staff with spa breaks and weekends away. bit.ly/2mm1LN8

Hundreds of KPMG staff in the United Kingdom have been told to hand in their work mobile phones as the company steps up its cost-cutting drive and also plans to cut about 200 of its 670 administrative support staff. bit.ly/2nWH3UK

The Telegraph

British-based digital banking app Revolut is planning to hire 3,500 new employees after it struck a deal with Visa to expand into 24 new countries. bit.ly/2oMDHEb

Woodford Patient Capital Trust Plc is scrambling to extend a lifeline from its lender after plunging to a 232 million pound ($285.06 million) loss. bit.ly/2oL8wsP

Sky News

Former Thomas Cook Group staff have demanded the Government steps in with financial support, following the holiday company's collapse. bit.ly/2oMIXHV

Energy group Ovo ignited by 1 billion pound sales ahead of SSE deal as the company's annual results for 2018, which will be published at Companies House this week, will show a 25% rise in sales to 1.042 billion pound ($1.28 billion). bit.ly/2moP1Fy

$1 = 0.8139 pounds Compiled by Bengaluru newsroom

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