November 3, 2017 / 1:36 AM / 5 months ago

PRESS DIGEST- Financial Times - Nov 3

Nov 3 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.


Labour suspends veteran MP Kelvin Hopkins

Tesco chief describes 'shock' at false accounting claims

Bank of England lifts rates for first time in a decade

Trump names Jay Powell as Federal Reserve chair nominee


Labour MP Kelvin Hopkins was suspended on Thursday evening by his party which is investigating unspecified allegations against the veteran politician.

At the trial of three former senior executives of Britain’s biggest retailer Tesco Plc, Chief Executive Dave Lewis told of his “surprise” and “shock” when, three weeks into his job, the supermarket’s top lawyer showed him a document that is now at the centre of one of Britain’s highest-profile prosecutions for fraud.

The Bank of England raised interest rates for the first time in more than 10 years on Thursday but said it expected only “very gradual” further increases as Britain prepares to leave the European Union, sending sterling down sharply.

U.S. President Donald Trump on Thursday named Fed Governor Jerome Powell as his nominee to become head of the U.S. central bank, breaking with precedent by denying Janet Yellen a second term but signalling a continuation of her cautious monetary policies. (Compiled by Bengaluru newsroom; Editing by Sandra Maler)

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