PRESS DIGEST- Financial Times - Dec 29

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Dec 29 (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

-Ministers accused of Whitehall pay ploy

-Exxon sues EU in move to block new windfall tax on oil companies

-Banks are cutting loans to UK oil and gas producers, says energy industry

-Employment tribunals in England and Wales suffer severe delays post-COVID

Overview

Labour has accused ministers of getting around a civil service pay freeze last year by handing out at least £30 million ($36.08 million)in bonuses in the form of non-cash vouchers, to be spent at outlets including retailer Argos and bakery chain Greggs.

U.S. oil major Exxon Mobil Corp is suing the European Union in a bid to force it to scrap the bloc's new windfall tax on oil groups, arguing Brussels exceeded its legal authority by imposing the levy.

Banks are reducing loans to smaller North Sea oil and gas producers after the UK government raised and extended its windfall tax on fossil fuel companies in November, the energy industry has warned.

Employment tribunal cases in England and Wales have been pushed back as far as mid-2024 as the system struggles to cope with increased waiting times after the COVID-19 pandemic and a decade of underfunding, data show. ($1 = 0.8315 pounds) (Compiled by Bengaluru newsroom)

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