March 16, 2020 / 2:09 AM / 14 days ago

PRESS DIGEST- British Business - March 16

March 16 (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

The 1-billion-pound ($1.23 billion) loan scheme to help small businesses cope with the coronavirus crisis may be too small, too complex and take too long to launch, banks say.

Saudi Arabia's state oil giant Saudi Aramco has slashed its spending plans by $10 billion after the kingdom launched a price war that sent the value of crude tumbling.

The Guardian

UK's biggest fund manager has bowed to client pressure and agreed to launch its first fossil fuel-free ethical pension fund later this year.

Manufacturers are urging the UK government to take action to help limit the damage caused by the coronavirus pandemic after research showed that exports have slumped to their lowest level in three years.

The Telegraph

The U.S. Federal Reserve has slashed its main interest rate by a full percentage point to near zero and restarted quantitative easing in a drastic emergency action hoped to protect the U.S. economy from the worst of the coronavirus outbreak.

Global demand for oil is heading for its biggest annual slump on record as more countries go into lockdown and impose travel bans to combat the spread of coronavirus.

Sky News

Ian Cheshire, the former boss of DIY retailer Kingfisher, is being lined up to take a senior post on the board of BT Group Plc , Britain's biggest telecoms company.

Britain's airline industry needs emergency government support worth up to 7.5 billion pounds to avert a catastrophe that would wipe out tens of thousands of jobs, Boris Johnson will be told next week.

$1 = 0.8127 pounds Compiled by Bengaluru newsroom

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below