PRESS DIGEST - British business - Nov 1
COMET HITS ROCK BOTTOM AS ADMINISTRATION LOOMS
Thousands of jobs were under threat on Wednesday as Comet was poised to call in administrators. Talks are still continuing, with insolvency specialists from Deloitte [DLTE.UL lined up.
BG GROUP PLUNGES ON PRODUCTION WARNING
BG Group suffered the biggest one-day share-price fall in its history on Wednesday, wiping some 6 billion pounds ($9.67 billion) off the value of the company, after warning it would see no growth in its oil and gas production next year.
JP MORGAN SUES LONDON WHALE'S BOSS
JP Morgan is suing the former boss of Bruno Iksil, the trader nicknamed the London Whale because of the size of the bets he made in helping to rack up a $6 billion loss at the bank.
TORY REBELS DEAL EU BLOW TO CAMERON
David Cameron will face a battle to secure parliamentary backing for any EU budget deal that falls short of a real terms cut after he suffered his first major Commons defeat on EU spending on Wednesday.
JOB CUTS LOOM AS COMET FACES COLLAPSE
Thousands of jobs are at risk as Comet, the 240-store electricals retailer, is poised to appoint an accountancy firm as administrator just nine months after the UK chain was bought for a token 2 pounds.
CAMERON SHAKEN BY EU BUDGET DEFEAT
David Cameron fell to a 13-vote defeat in the Commons last night as dozens of Tory MPs defied their whips to demand he presses for cuts in the European Union's budget.
BARCLAYS FACES TWO NEW PROBES INTO ITS CONDUCT
Barclays, could face substantial fines arising from new inquiries into its power-trading operations in the U.S. in 2006-8, and into payments to advisers to the Qatar sovereign wealth fund in 2008.
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