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REFILE-PRESS DIGEST-British Business - Nov. 26

·2 min read

(Corrects to add link to Telegraph report)

Nov 26 (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

- International Business Machine Corp is expected to cut 10,000 jobs across Europe, with up to 2,000 roles in UK and Ireland at risk.

- Some of UK's biggest accounting firms have accused the government of damaging business by dragging its feet on audit reforms.

The Guardian

- Eurostar has appealed to the UK government for urgent financial support, warning it is "fighting for survival" with just one train a day now running from London to Paris.

- The UK government will need to find up to 27 billion pounds ($36.15 billion) worth of spending cuts or tax rises by 2024 to put the public finances on a sustainable footing, the Treasury's spending watchdog has warned.

The Telegraph

- B&Q owner Kingfisher PLC has bought NeedHelp, an online platform connecting tradespeople with households for tasks such as kitchen installation, painting, flooring or bathroom renovation, for 10 million euros ($11.92 million).

- Taxpayers will fork out 5.8 million pounds a day next year to keep rail services running following concerns that demand for train travel will take years to return to pre-pandemic levels.

Sky News

- UK's biggest banks are racing to finalise the funding and rules of a new dispute resolution scheme designed to end years of controversy over small businesses' treatment at the hands of their lenders.

- Rishi Sunak has announced a public sector pay freeze and a cut to foreign aid spending as the UK battles soaring debt and unemployment amid a huge COVID-induced economic shrinkage.

The Independent

- The EU has been reprimanded for appointing the Blackrock Inc to advise on how to make banks more sustainable. On Wednesday, the European Ombudsman said the EU's executive arm had failed to properly consider BlackRock's potential conflicts of interest.

($1 = 0.7469 pounds) ($1 = 0.8388 euros) (Compiled by Bengaluru newsroom)