News Digest – UK Business – 24 October

Oct 24 (Reuters) – Here are the headlines from the business pages of British newspapers. Reuters has not verified the reports and does not guarantee their accuracy.


– Boris Johnson dropped out of the Conservative leadership race, paving the way for Rishi Sunak to become Britain’s next prime minister.

– Rating agency S&P Global has warned that central banks and regulators should ease rules related to collateral requirements in the wake of the UK pension fund crisis to prevent a further collapse in the financial sector.


– Britain’s data watchdog fined construction group Interserve 4.4 million pounds ($5 million) after a cyberattack allowed hackers to steal the personal and financial information of up to 113,000 employees.

– Online fashion retailer ASOS Plc will confirm on Monday that billionaire retailer Mike Ashley has a more than 5% stake in the company.

The Telegraph

– The boss of IBM UK Sreeram Visvanathan said a post-Brexit overhaul of red tape would boost the fortunes of London’s tech sector and allow the city of London to beat international rivals amid political turmoil and an inflation crisis.

sky news

– Dietrich Mateschitz, an Austrian billionaire and co-founder and owner of Red Bull, has died at the age of 78 after developing severe cancer.

($1 = £0.8804) (Compiled by Bangalore Newsroom)

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