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PRESS DIGEST-British Business - April 11

ReutersApr 11, 2025 4:42 AM

- 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 is facing permanent tariffs of 10% on exports to the United States even if it succeeds in securing an economic deal with U.S. President Donald Trump, his senior allies have said.

- Britain's accounting watchdog has fined EY 4.9 million pounds ($6.38 million) for "serious breaches of standards" in its work signing off the accounts of Thomas Cook, the travel group that collapsed in 2019.

The Guardian

- British Minister Keir Starmer has admitted he has still not spoken to U.S. President Donald Trump since he brought the trade tariffs, with government sources saying Britain was not given any advance warning of this week's changes to U.S. tariffs.

- The British Cabinet Office will shrink in size by about a third, with about 1,200 jobs being cut and another 900 being transferred to other departments.

The Telegraph

- Barclay Family's Very Group has secured 600 million pounds ($780.84 million) in costly new loans in a deal led by Mayfair-based Arini Capital.

- British Environment Secretary Steve Reed has approved controversial plans to relocate Anglian Water's sewage plant in Milton to Honey Hill as part of a major development across Cambridge, which will include 8,000 new homes.

Sky News

- The Universities Superannuation Scheme (USS) is among the financial investors vying to buy the lease of the O2, Britain's best-known entertainment venues.

- British Chancellor Rachel Reeves has approved the reappointment of Nikhil Rathi, whose initial five-year term expires in September, as the chief executive of the Financial Conduct Authority (FCA).

($1 = 0.7684 pounds)

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