January 30, 2020 / 1:19 AM / 19 days ago

PRESS DIGEST- Financial Times - Jan. 30

Jan 30 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

Northern rail franchise to be nationalised, says UK government on.ft.com/3172KRa

Jaguar Land Rover CEO Ralf Speth to step back in September on.ft.com/2GwXxJ6

Johnson and Javid order budget cuts of at least 5% on.ft.com/38TplUm

Ofgem criticised for oversight of electricity companies on.ft.com/2t9gQFn

Overview

Britain announced on Wednesday it would nationalise the troubled Northern rail franchise, in a move that will bring a second train network under state control in less than two years.

Jaguar Land Rover’s Chief Executive Officer Ralf Speth will step down in September when his contract ends, but will retain an advisory role at the British carmaker.

Boris Johnson and Sajid Javid have demanded all cabinet ministers to identify cuts of at least 5% to their Whitehall department budgets.

According to the National Audit Office, British households have overpaid its electricity networks at least 800 million pounds ($1.05 billion) over the current eight-year (2013-2021) regulatory period.

$1 = 0.7608 pounds Compiled by Bengaluru newsroom

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