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PRESS DIGEST- Financial Times - Sept 14

PRESS DIGEST- Financial Times - Sept 14

Reuters · 09/13/2022 20:24
PRESS DIGEST- Financial Times - Sept 14

- The following are the top stories in the Financial Times. Reuters has verified these stories and does vouch for their accuracy.


Headlines

- UK business warned of delay to state energy support https://on.ft.com/3qy4tga

- Germany pledges 67 billion euro to bolster struggling energy companies https://on.ft.com/3RZQxXL

- Aldi overtakes Morrisons to become UK's fourth-largest grocer https://on.ft.com/3LbXXoF

- Ex-owner of Newport Wafer Fab plans to buy back UK semiconductor plant https://on.ft.com/3DjruuR


Overview

- Companies have been warned by UK government officials that they will have to wait longer than households for help from its 150 billion pounds ($172.53 billion) energy package, due to the difficulty of launching a support system before November.

- KfW, Germany's state development bank, will be able to deploy 67 billion euro ($66.85 billion) in loan guarantees and liquidity assistance to energy firms, according to officials, drawing on funds that were originally earmarked for companies hit by the COVID-19 pandemic.

- Aldi is the UK's fourth-largest supermarket after it overtook rival Wm Morrison by taking a bigger share of the market in recent weeks.

- The previous owner of Newport Wafer Fab, the UK's largest semiconductor manufacturer, is orchestrating a bid to buy back the company he sold to Chinese-owned Nexperia in a deal that is at the centre of controversy over Britain's industrial policy.



($1 = 1.0022 euros)


($1 = 0.8694 pounds)


(Compiled by Bengaluru )

((globalnewsmonitoring@thomsonreuters.com))