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PRESS DIGEST-British Business - Oct. 20

·2-min read

Oct 20 (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

Procter & Gamble Co is preparing to increase the price of more household goods including razors as it braces for a fall in profits because of higher commodity and freight costs.

DraftKings Inc has been given another month to hammer out a deal with Entain after the two gambling behemoths failed to agree on the structure of a mooted 16.4 billion pounds ($22.62 billion) takeover.

The Guardian

The UK government has announced plans to launch a 400 million pounds package of investment alongside the U.S. billionaire Bill Gates to boost the development of new green technologies.

New taxes may be needed to replace billions of pounds in lost income from fuel duty on petrol and diesel cars, the Treasury has warned, revealing concerns at the heart of government over risks to the public finances from the green transition.

The Telegraph

Credit Suisse has been fined almost 150 million pounds as part of a global settlement for its role in the "tuna bonds" scandal that tipped Mozambique into a financial crisis.

Halifax has relaxed mortgage borrowing rules for millions of wealthy homebuyers in a bet that the property market will remain resilient despite the threat of rising interest rates.

Sky News

British supermarket group Morrisons shareholders have formally approved a 7 billion pound takeover by U.S. private equity firm Clayton, Dubilier & Rice (CD&R) after a bidding war.

The Competition and Markets Authority has revealed plans to investigate the music streaming market to check if it delivers value for consumers.

The Independent

Food and drink firms are facing a "terrifying" rises in costs amid worker shortages and supply chain, MPs have been warned.

Boris Johnson's government has said it will require all vehicles in the UK to be "zero-emissions capable" by 2035, as ministers set out the plan for achieving their 2050 net zero target.

($1 = 0.7251 pounds) (Compiled by Bengaluru newsroom)

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