PRESS DIGEST-British Business - July 9
July 9 (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
- Britain's financial regulator has fined digital bank Monzo 21 million pounds(28.57 million) for inadequate protection against financial crime, which included taking on customers who had listed landmarks such as Buckingham Palace as their address.
- Axis Logistics, the transport operation of the Prax Group, has been cut off from accessing fuel from the company’s Lindsey oil refinery after the facility in Humberside was placed into administration by the government last week
The Guardian
- French nuclear energy utility EDF will invest around 1.1 billion pounds ($1.5 billion) in the Sizewell C nuclear project in Britain in which it is already a shareholder, the French presidency and British government said on Tuesday.
- Former British prime minister Rishi Sunak will return to Goldman Sachs GS.N in an advisory role, the Wall Street bank said on Tuesday, taking a new post a year after he led the Conservatives to a crushing electoral defeat.
The Telegraph
- Octopus Energy criticised regulator Ofgem policy that it must provide customers with final bills within six weeks when they move out of their homes, after it was fined 1.5 million pounds($2.04 million).
- French president Emmanuel Macron believes the UK bears the blame for record numbers of small boats crossing the Channel and is demanding that British Prime Minister Keir Starmer make Britain less appealing to migrants to secure a "one in, one out deal."
Sky News
- The UK will miss the White House-imposed deadline to agree a trade deal on steel and aluminium this week, according to insiders from government and industry.
- The chairman of Marks & Spencer MKS.L has told MPs the company is still in "rebuild mode" - and will be for "some time to come" - following a cyber attack which led to empty shelves and limited online operations for months.
($1 = 0.7362 pounds)
Related Articles
Fed Rate Cut Finally Arrives,Dollar Index: Negative Catalysts Largely Priced In,Euro Rally May Be Running Out of Steam
Tradingkey - The Federal Reserve lowered the target range for the federal funds rate by 25 basis points to 4.00%–4.25% late yesterday, as widely expected, and signaled two additional rate cuts this year.
[U.S. IPO] Netskope Raises $908 Million in IPO, Debuts Thursday: A Rising Star in Cloud Security?
TradingKey - Backed by venture capital firm Lightspeed Venture Partners, Netskope Inc., a technology provider specializing in securing enterprise cloud services, has raised $908.2 million in its IPO. The company's valuation now exceeds $7 billion. Netskope is set to list on the Nasdaq under the tick-24998ce9215f4781a8d3878dba968c9e.jpg)
Why the September Fed Meeting Feels So Strange? The Answer Lies with Miran, Cook and Trump
TradingKey - Beyond analyzing whether the updated dot plot after the Fed’s rate decision reflects a dovish or hawkish tilt, investors are increasingly curious about what will become of the Federal Reserve amid political interference, personnel changes, and potential institutional shifts. The Wall
[U.S. IPO] Oilfield Water Giant WaterBridge Raises $634M in IPO; Can It Repeat LandBridge's 125% Surge?
TradingKey - Oil field water management company WaterBridge (WBI) announced on September 16 that its US initial public offering (IPO) is expected to price 31.7 million shares at $20 per share, raising a total of $634 million.
September Global Central Bank Divergence: How Will U.S. Stocks and Forex Markets Move?
TradingKey - Despite the divergence in monetary policies among major global central banks in September (with the Federal Reserve cutting rates while the European Central Bank, Bank of England, and Bank of Japan maintain steady rates), we expect the policy directions of the Fed, ECB, and BoE to...
