U.S. Markets closed

PRESS DIGEST- British Business - Oct 17

Oct 17 - 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 Telegraph


US DEBT CEILING CRISIS - BUSINESS NEWS AND MARKETS: LIVE

U.S. Senate strikes deal to raise the country's debt limit and reopen government, though vote to ratify plans not expected until "after dinner," according to a Republican spokesman.


PETER VOSER: CHEAP SHALE GAS IS A MYTH

Shale gas will not change energy pricing structures across the world, according to the chief executive of Shell.


The Guardian


FINANCIAL CONDUCT AUTHORITY LAUNCHES CURRENCY MARKETS INVESTIGATION

Suspicion that the vast global currency markets may have been rigged by major banks and traders has sparked the City regulator, the Financial Conduct Authority, to launch a formal investigation into the £3tn a day market.


M&S NEEDS ONLINE FOOD DELIVERY, SAYS FORMER BOSS

Marks & Spencer must look seriously at offering a full online food service, says its former boss Stuart Rose, chairman of Internet grocery group Ocado.


The Times


ROYAL MAIL STAFF VOTE TO WALK OUT ON NOVEMBER 4

Royal Mail is set to be shut down on the first Monday in November as sorting office and delivery workers voted by nearly four to one for an all-out one day strike.


APPLE PARES BACK ON IPHONE 5C PRODUCTION

Apple's push downmarket with its lower-cost iPhone 5C has yet to bear fruit after reports emerged that it has slashed production of the new model.


Sky News


MP WARNS CABLE OVER ROYAL MAIL BANK JACKPOT

Vince Cable, the Business Secretary, is under pressure to cancel millions of pounds of fees to the investment banks which oversaw the privatisation of Royal Mail.


FUEL RISK AS GRANGEMOUTH CRISIS DEEPENS

The Grangemouth oil refinery is to be closed for at least a week, threatening fuel supplies in Scotland, as its owner complains of financial damage from a threatened strike.