PRESS DIGEST- Financial Times - January 8
Jan 8 (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
- Zilch buys Lithuanian lender Fjord Bank to secure European banking licence
- Abu Dhabi paid for Nigel Farage to meet senior UAE officials
- UK ministers cut estimated annual cost to business of worker rights act to 1 billion pounds
- Ministers look at concessions for UK pubs as business rate backlash grows
Overview
- Zilch has secured a European banking licence by purchasing Lithuanian lender Fjord Bank for $38 million, in a bid to accelerate the London-based fintech's international expansion ahead of a potential IPO.
- Abu Dhabi paid for Nigel Farage to travel to the United Arab Emirates in December to meet senior officials, a move that underscores growing international interest in the populist politician.
- The British government has slashed its estimate of the cost to business of its flagship reforms to workers' rights to 1 billion pounds ($1.35 billion), saying it now believes it is "highly unlikely" that the previous worst-case scenario of a 5 billion pound hit will materialise.
- British ministers are exploring options for concessions to defuse a growing row with pub landlords over rising business rates.
($1 = 0.7432 pounds)
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