PRESS DIGEST — British Business — October 15
Oct 15 (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 - Netflix is laying off 6% of its workforce, or roughly 1,000 employees, in its biggest cuts since 2022, with the bulk of the job cuts in the company's product, tech, legal and human resources teams. - CDS Superstores is the latest bidder to emerge in the sale process of European discount retailer Poundland, while Gordon Brothers are racing to secure a deal. The Guardian - US tech firm Palantir and London mayor Sadiq Khan's office have called off their legal fight over claims the Labour mayor was blocking the US tech company from signing a £50 million ($66.15 million) contract with the Metropolitan police because of its values and ethics. - The UK is expanding its sanctions powers to freeze assets and target entities enabling illegal Israeli settlements, obstructing humanitarian aid or unlawfully holding prisoners. The Telegraph - British business minister Jonathan Reynolds said Britain would make trade decisions "based on the UK interest" and would not be forced into following Europe's tariff reg
Oct 15 (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 - Netflix is laying off 6% of its workforce, or roughly 1,000 employees, in its biggest cuts since 2022, with the bulk of the job cuts in the company's product, tech, legal and human resources teams. - CDS Superstores is the latest bidder to emerge in the sale process of European discount retailer Poundland, while Gordon Brothers are racing to secure a deal.
15 million) contract with the Metropolitan police because of its values and ethics. - The UK is expanding its sanctions powers to freeze assets and target entities enabling illegal Israeli settlements, obstructing humanitarian aid or unlawfully holding prisoners. The Telegraph - British business minister Jonathan Reynolds said Britain would make trade decisions "based on the UK interest" and would not be forced into following Europe's tariff regime, after the European Union announced a quota of 350,000 electric vehicle imports a year from China.
Sky News - Companies including energy software business Kraken and fintech unicorn Zilch attended a meeting with investors and brokered by government aides at Downing Street this week in an attempt to unblock London's listings logjam. The Independent - Britain is to finance essential repairs at the Chernobyl nuclear site following a Russian drone strike, with a contribution of £17 million towards restoring the plant's protective shelter and ventilation systems damaged in an attack last year. com)