PRESS DIGEST-British Business - February 27
Feb 27 (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
- Barclays BARC.L and Jefferies JEF.N face large potential losses after UK mortgage provider Market Financial Solutions collapsed, with a judge flagging “very serious” fraud concerns around the mortgage lender.
-ChatGPT maker OpenAI said that it would make London its largest research hub outside the United States, citing Britain's technology ecosystem as an ideal environment to invest in and develop new artificial intelligence systems.
The Guardian
- Ministers will take another step towards banning social media for under-16s next week as they launch a consultation on the policy, with government insiders increasingly certain British Prime Minister Keir Starmer will back the idea.
The Telegraph
- Britain’s biggest bank Lloyds Bank LLOY.L is to stop opening accounts for customers at its branches and instead force them to go online.
Sky News
- Ocado OCDO.L which provides automated technology for distribution centres and runs its own UK online grocery business is to cut around 1,000 jobs as part of a plan to slash costs and restructure its operations.
The Independent
- Around 300 jobs are at risk at grocery giant Sainsbury’s SBRY.L across the firm’s supermarket and Argos businesses as part of a raft of changes in its technology and data teams and head office operations.
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