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British Business Update: Key Insights from November 22nd

ByEditor

Nov 22, 2023

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 Guardian- The outcome of the Brexit vote and years of political uncertainty it triggered has had a chilling impact on business investment in Britain, a deputy governor of the Bank of England has said. This uncertainty could be alleviated by Europe’s energy and electric vehicle industries. Additionally, they could reduce their dependency on scarce raw materials from China after the launch of a “breakthrough” sodium-ion battery, according to Northvolt.

The Times- Paul Marshall has launched a last-minute attempt to derail an Abu Dhabi bid to refinance the Barclay family‚Äôs 1.2 billion pound ($1.50 billion) debt, which would pave the way for a foreign takeover of the Telegraph newspapers. Furthermore, Binance’s boss 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 Telegraph- Stellantis is in negotiations with CATL, the world’s biggest maker of batteries for electric vehicles (EVs), over a joint venture to make cheaper power cells. Additionally, Chancellor Jeremy Hunt gave a boost to almost three million of the poorest workers by raising the minimum wage in the UK by 1 pound an hour to 11.44 pounds from next April

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