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PRESS DIGEST-British Business - Feb. 8

· 02/07/2021 19:33
PRESS DIGEST-British Business - Feb. 8

- 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

- HSBC HSBA.L has come under fire from an international coalition of senior politicians over its decision to freeze the bank account of a prominent pro-democracy activist in Hong Kong. https://bit.ly/2LtxFnv

- Companies will have borrowed more than 60 billion pounds ($82.43 billion) to help them to survive the pandemic by the end of this year, according to forecasts that lay bare the precarious state of corporate Britain's finances. https://bit.ly/2LxP2DQ

The Guardian

- Companies in Britain are warning of an escalation in Brexit red tape as the government prepares to introduce a long list of new controls on imports from the European Union in April and July. https://bit.ly/3aFTUzj

- The Bank of England is braced for the possibility that a mood of national depression that engulfed Britain as it plunged into a third national lockdown will end with a spending spree when restrictions are lifted. https://bit.ly/3twsxAp

The Telegraph

- Bank of England Governor Andrew Bailey faces an inquisition over his handling of the London & Capital Finance fiasco today – including "absolutely disgraceful" efforts to get his name removed from a highly critical report into the saga. https://bit.ly/36NTA08

- Chancellor Rishi Sunak should extend the stamp duty holiday permanently or even scrap the tax altogether, Boris Johnson's former economics adviser has said. https://bit.ly/2LtyoVL

Sky News

- Amazon AMZN.O and other major internet retailers could be hit with a new online sales tax to help Britain pay its debts after extensive borrowing during the pandemic.https://bit.ly/3tzT0Np

- The volume of exports going through British ports to the EU fell by 68% last month compared with January last year, according to research. https://bit.ly/3a2ECpj

The Independent

- Millions of British households will see their gas and electricity bills jump by almost 100 pounds a year at a time when many people’s finances are already under pressure. https://bit.ly/3aHDvK

($1 = 0.7279 pounds)

(Compiled by Bengaluru newsroom)