On November 22, the following are the top stories from the business pages of British newspapers. Please note that Reuters has not verified these stories and cannot guarantee their accuracy.
The Times reports that Paul Marshall has launched a last-minute attempt to derail an Abu Dhabi bid to refinance the Barclay family’s 1.2 billion pound ($1.50 billion) debt, which could pave the way for a foreign takeover of the Telegraph newspapers. Meanwhile, Binance’s CEO pleaded guilty to money laundering charges and will pay a $50 million fine as part of a $4 billion-plus settlement to resolve a lengthy inquiry by U.S. prosecutors.
The Guardian reports that uncertainty around the Brexit vote and its impact on business investment in Britain has had a chilling effect on UK firms. Europe’s energy and electric vehicle industries could potentially ease this uncertainty, as they have expressed interest in reducing their dependence on raw materials from China after launching a “breakthrough” sodium-ion battery by Northvolt. Additionally, Chancellor Jeremy Hunt announced plans to increase the minimum wage in the UK by £1 per hour next April, providing a boost to almost three million low-income workers.
The Telegraph reports that Stellantis is in talks with CATL, the world’s biggest EV battery manufacturer, about forming a joint venture to create cheaper power cells for electric vehicles (EVs). The UK government also announced plans to raise the minimum wage by £1 an hour next April, benefiting nearly three million low-paid workers across the country.
Sky News reports that Deliveroo’s riders cannot be represented by trade unions for collective bargaining purposes due to a ruling by the UK Supreme Court. In addition, Shell’s energy division was fined £1.4 million ($17 million) by regulators for breaking customer protection rules related to billing and debt recovery practices.