British Business - Aug 24

Aug 24 (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

- The Dutch state railway, one of the biggest backers of Britain's train network via its Abellio subsidiary, is quitting the UK. Link

- Viable businesses will be forced to the brink of collapse unless the government provides urgent help to support companies and consumers through the energy crisis, Britain's biggest business groups have warned. Link

The Guardian

- The Bank of England could be forced to raise interest rates to 4% from as early as next year to combat soaring inflation, despite the growing risk of recession amid the cost of living crisis. Link

- The minimum wage should be increased to 15 pounds an hour as soon as possible to help millions of low-paid workers struggling amid the cost of living crisis, the TUC has said. Link

The Telegraph

- Brussels has slashed crop production forecasts as an "exceptionally" hot summer leaves almost half of Europe under drought warning conditions. Link

- Industry chiefs are preparing for the energy crisis to last for another three years as National Grid NG.L draws up emergency plans to reduce power demand from factories across Britain. Link

Sky News

- Japanese carmaker Nissan 7201.T has decided to stop production of cylinder heads for French car maker Renault RENA.PA at its plant in Sunderland, northern England, from early 2024. Link

- Britain's Gatwick Airport has cancelled a number of flights at the last minute due to late-notice absence in its air traffic control tower. Link

(Compiled by Bengaluru newsroom)

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