PRESS DIGEST-British Business – Dec 7

Dec 7 (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

– About 1.5 million households supplied by collapsed energy supplier Bulb face months more uncertainty after a judge said a legal challenge against its sale to Octopus Energy could not be heard until next year.

– British department store chain Fenwick is to close its Bond Street department store in central London after more than 130 years as the retailer looks to secure its long-term future following a “challenging” few years.

The Guardian

– British finance minister Jeremy Hunt will urge the UK’s largest banks to do all they can to support those struggling to pay their mortgage during the cost-of-living crisis when he holds his first talks with chief executives on Wednesday.

– The British government will have to release papers, advice and correspondence relating to the award of COVID-19 contracts to PPE Medpro, a company recommended by Conservative peer Michelle Mone who subsequently appeared to receive millions originating from its profits.

The Telegraph

– British media regulator Ofcom faces a demand for an independent investigation after one of its senior executives held talks about joining the BBC while overseeing a review of its operating licence.

– British officials were locked in talks last night with counterparts in Ankara as a traffic jam of Western oil tankers stuck in Turkish waters threatened to escalate into a diplomatic row.

Sky News

– The British government has U-turned over its ban on onshore wind by saying turbines could be installed if the projects gain the support of local communities.

– British finance minister Jeremy Hunt will commit to a review of City “unbundling” this week as part of a package of deregulatory reforms aimed at bolstering London’s post-Brexit competitiveness. (Compiled by Bengaluru newsroom)