October 25, 2019 / 1:28 AM / 4 months ago

PRESS DIGEST-British Business - Oct 25

Oct 25 - 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

- UK finance minister Sajid Javid announced that November 6 budget would no longer take place. bit.ly/2BEenmU

- Barclays Plc has scrapped controversial plans to prevent customers withdrawing cash from post offices after an outcry by Members of Parliament and consumer groups. bit.ly/2JmrEVk

The Guardian

- British prime minister Boris Johnson has abandoned his "do or die" pledge to leave the European Union by 31 October and will plead with Members of Parliament next week to give him a pre-Christmas general election. bit.ly/3467S8N

- The U.S. owner of CashEuroNet UK, which operates the QuickQuid and On Stride brands, is considering its options after confirming plans to exit its British operations. bit.ly/2qJ7uP1

The Telegraph

- Woodford Patient Capital Trust formerly run by Neil Woodford faces a backlash after appointing fund firm Schroders Plc as its new manager on fees of 3.5 million pounds ($4.50 million) a year. bit.ly/2NadurB

- Britain's Network Rail is poised to reignite a rescue bid for part of British Steel after takeover talks with a Turkish pension fund OYAK broke down. bit.ly/2MJxvpL

Sky News

- British hair salons chain Regis UK has called in administrators, thwarting a bid by prominent high street landlords to overturn a financial restructuring and putting more than 1,000 jobs at risk. bit.ly/2ocaTVw

The Independent

- Britain's Competition and Markets Authority (CMA) has launched an investigation into the planned sale of power company SSE Plc's retail energy business to Ovo Energy, to ensure the deal will not reduce competition. bit.ly/31LL9NE

$1 = 0.7785 pounds Compiled by Bengaluru newsroom

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