PRESS DIGEST-British Business - Oct 11

Oct 11 (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

Prime Minister Liz Truss will have to find 62 billion pound in savings even to meet her looser fiscal rules, according to analysis warning that painful cuts to public services will be needed to balance the books.

The Guardian

Santander UK Chief Executive Officer Mike Regnier said the bank is putting aside more money for potential defaults linked to the cost of living crisis after seeing a pickup in customers falling behind on mortgage and loan payments.

British finance minister Kwasi Kwarteng has brought forward the date of his debt-cutting plan to 31 October after pressure from MPs over the unfunded tax and spending promises announced in last month’s mini-budget.

The Telegraph

Community Fibre has secured nearly 1 billion pound ($1.11 billion) in funding to expand its full-fibre network across London, the latest injection of capital into the so-called "alt nets" taking on the former state monopoly.

The Bank of England should push through an emergency rate rise to restore global confidence in UK policy-making and head off a potentially dangerous cliff-edge when its bond support operation expires, Maurice Obstfeld, a former chief economist of the International Monetary Fund (IMF) has warned.

Sky News

Morrisons' acquisition of convenience retailer McColl's , has edged closer to be cleared by the competition watchdog. ($1 = 0.9022 pounds) (Compiled by Bengaluru newsroom)