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PRESS DIGEST-British Business - Nov. 24

·2 min read

Nov 24 (Reuters) - 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

-Debenhams PLC is in exclusive talks with JD Sports Fashion PLC about a rescue takeover of the department stores chain that could secure the futures of thousands of retail workers before Christmas. https://bit.ly/398GxIL

- Rishi Sunak is poised to cancel plans for a 5.6% rise in the national living wage for two million low-paid workers amid concerns that it could force companies hit by Covid-19 out of business. https://bit.ly/3m2Pp6f

The Guardian

- The governor of the Bank of England, Andrew Bailey, has warned that the economic cost of a no-deal Brexit would be bigger in the long term than the damage caused by COVID-19. https://bit.ly/2Hs9N1w

- The UK government plans to double the amount of renewable energy it will subsidise next year after agreeing to include onshore wind and solar power projects for the first time since 2015. https://bit.ly/2USQeCy

The Telegraph

- Equiti Capital UK Ltd, a foreign exchange broker is facing a multimillion pound legal claim over its alleged links to a suspected 93 million pound ($123.90 million) Ponzi-like fraud being investigated by the US Securities and Exchange Commission. https://bit.ly/3nQAo7Z

- Bank of England chief economist Andy Haldane told MPs on the Treasury Select Committee that news of three effective vaccines days after the central bank predicted an 11% growth slump and pumped an extra 150 billion pounds into the economy "has been to the positive side of our assumptions". https://bit.ly/370CZFD

Sky News

- Cineworld PLC has secured a 552 million pound funding lifeline to see it through the coronavirus crisis until a hoped-for reopening of screens in the spring. https://bit.ly/33e3B4Z

- Bibby Line Group Ltd, the family owned conglomerate behind the Costcutter convenience store network is exploring a sale of its giant distribution arm. https://bit.ly/3fsS7zF

($1 = 0.7506 pounds) (Compiled by Bengaluru newsroom)