Press Digest – British Business – March 1

March 1 (Reuters) – The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and cannot be verified for their accuracy.

The Times

– British Prime Minister Rishi Sunak has pleaded with Tory MPs to support him and finally “get Brexit done”.

– The British Pharmaceutical Industry Association, in a statement to the UK Department of Health and Social Care, has called for a 6.88% reduction in the price reduction on NHS-branded medicines sales this year, down from an estimated 26.5% reduction this year.

The guard

_ British supermarket group Sainsbury’s plans to merge five existing Sainsbury’s and Argos general merchandise warehouses into three by 2026 will close two and affect 1,400 workers, it said on Tuesday.

– UK Tube workers in the RMT union will go on strike on March 15 over pensions, job losses and contract deals.


– Plans to shut down Britain’s last coal-burning power stations must be delayed by another year, UK Energy Secretary Grant Shapps has said.

– Britain’s electric van champion Destination has been forced to fight legal action from creditors over its share price over alleged unpaid debts.

Sky News – The UK’s Financial Conduct Authority is monitoring the financial health of banking services provider Railsr amid urgent sale talks.

– The UK government is set to inject tens of billions of pounds into a fiscal windfall, making the argument against higher public sector pay contributions harder to sustain, according to the Institute for Fiscal Studies (IFS).

The independent

– British retailer Marks & Spencer will raise hourly pay for more than 40,000 store workers by 7% from April, the biggest increase in more than three years, which could draw the attention of the Bank of England, which is concerned about inflation in the economy.

(Compiled by Bengaluru Newsroom)

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