PRESS DIGEST- British Business - Oct 6

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

UK JIHADISTS WERE TRADED BY TURKEY FOR HOSTAGES

Two British jihadists are understood to have been among scores of militant prisoners handed back to Islamic State by Turkey in return for the release of diplomats held by the group. (http://thetim.es/10CCVIs)

THOUSANDS OF JOBS TO GO IN LLOYDS REVAMP

Lloyds Banking Group PLC will cut thousands of staff and close more branches as Britain's largest retail lender embraces a "digitisation" strategy and automates its entire business. (http://thetim.es/1yGinhh)

The Guardian

LABOUR NHS FUNDING PLEDGE UNRAVELS

Labour's key election pledge to rescue the ailing NHS with an extra £2.5bn a year has begun to unravel after the party admitted that the money would not be available until halfway through the next parliament. (http://bit.ly/1vI5Ghm)

MORRISONS TO LAUNCH MORE PRICE CUTS IN FIRST SALVO OF 'TOUGH' CHRISTMAS CONTEST

WM Morrison Supermarkets PLC will launch more price cuts and promotions before Christmas, chief executive Dalton Philips promised, as part of the embattled supermarket chain's fight back against the discounters. (http://bit.ly/1uqw8ga)

The Telegraph

NO NEW COALITION WITHOUT TAX HIKES FOR MIDDLE CLASSES, NICK CLEGG WARNS DAVID CAMERON

The Liberal Democrats have told David Cameron they will refuse to form a coalition with the Conservatives unless he commits to punishing tax hikes for the middle classes, Nick Clegg has said. (http://bit.ly/1BHqHtp)

BT MOBILE NETWORK HIT BY TECHNICAL HURDLES

BT Group PLC's return to the consumer mobile market could be delayed beyond the current financial year because of technical problems that undermine its plan to undercut rival operators, the Telegraph said. (http://bit.ly/1vDmJ2V)

Sky News

JOHN LEWIS BOSS SORRY FOR 'HOPELESS' FRANCE JIBE

The boss of the John Lewis Partnership PLC has apologised to France after saying the country was "finished". He had made the critical comments at an event for entrepreneurs in London that included a competition for start-up businesses. (http://bit.ly/1pEX1at)

LABOUR PEER MCFALL JOINS DIGITAL BANK ATOM

Lord McFall, a former chairman of the Treasury Select Committee, is joining the board of Atom, the first British digital-only bank that hopes to launch next year. (http://bit.ly/1ujs29i)

The Independent

UBS BANK 'COULD FACE $6.3BN FINE' IN FRENCH TAX PROBE

France could fine Switzerland's largest bank, UBS AG , 3.9 billion stg, if it is found to have unlawfully helped rich customers avoid tax, according to reports in Geneva. (http://ind.pn/1yGnJJp)

EBOLA CRISIS: VIRUS COULD REACH THE UK AND FRANCE BY THE END OF THE MONTH, SCIENTISTS CLAIM

Scientists have claimed the Ebola virus could reach the UK and France by the end of the month. Following an analysis of disease spread patterns and airline traffic data, experts have predicted there is a 75 per cent chance the virus could be imported to France by Oct. 24, while there is a 50 per cent chance it could have also hit Britain. (http://ind.pn/1vI8bA4) (Compiled by Rishika Sadam in Bangalore)

Advertisement