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PRESS DIGEST- British Business - Oct 30
October 30, 2017 / 1:01 AM / 19 days ago

PRESS DIGEST- British Business - Oct 30

Oct 30 (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

British Treasury ministers were left in the dark about plans to alter UK listings rules in an effort to attract the potential 1 trillion-pounds-plus listing of Saudi Aramco to London amid intense competition to win the float, according to emails disclosed to the Times.

Pay for British-based partners at one of the world's biggest accountancy firms, Ernst & Young, has swelled to nearly 680,000 pounds ($892,704.00) as the professional services industry enjoyed bumper revenues in spite of Brexit and political upheaval around the world.

The Guardian

The Bank of England is poised to raise interest rates this Thursday for the first time in more than a decade, raising the cost of borrowing for British households already hurt by an earnings squeeze.

Britain is on track for a budget deficit – the gap between government spending and tax receipts – to reach 36 billion pounds by 2021-22, more than twice the initial official forecast of 17 billion, according to the Institute for Fiscal Studies.

The Telegraph

Ontario Graphite, a Canadian graphite producer, is drawing up plans to capitalise on the electric car boom and raise 40 million pounds by listing in London later this week.

The government's triennial review of the UK's betting industry is expected to act over fixed-odds betting terminals, known as the "crack cocaine" of gambling because they allow punters to stake as much as 100 pounds in a single 20-second flutter.

Sky News

The former owner of Monarch Airlines has pledged to use part of any profit it makes from the collapsed airline to compensate taxpayers saddled with a 60-million-pound bill for flying holidaymakers back to UK.

The Independent

A rising number of British restaurants are at risk of going bust due to Brexit, according to new research from accountancy firm Moore Stephens that says 20 percent of restaurants, or 14,800 outlets, are threatened with closure.

$1 = 0.7617 pounds Compiled by Bengaluru newsroom; Editing by Sandra Maler

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