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PRESS DIGEST-British Business - Sept 16

Sept 16 (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


- Unsecured creditors in Travelex are facing heavy losses after suffering a shortfall of more than 368 million pounds ($473.91 million) after a pre-pack administration of the foreign exchange business. https://bit.ly/3korWLM


- Sweden-based company Klarna Bank AB has raised a fresh capital that values it at $10.65 billion, claiming the crown of Europe's biggest privately owned financial technology company. https://bit.ly/2ZIA7ua



The Guardian


- Hundreds of thousands of small companies in UK will receive payouts on insurance claims after being forced to close during the Covid-19 pandemic, following a high court judgment in the test case brought by the City regulator. https://bit.ly/2RueAAX


- Nissan Motor Co Ltd former executive Carlos Ghosn who is accused of conspiring with the firm's fugitive former chairman, to falsify financial statements has pleaded not guilty in the first hearing of his highly anticipated trial. https://bit.ly/2E4CEaF



The Telegraph


- Plans for a 20 billion nuclear power station at Wylfa in Wales are likely to be scrapped with Hitachi Ltd, the Japanese giant bankrolling the programme, set to pull out.https://bit.ly/2H5Y7Bd


- Employers' National Insurance contributions and business rates could both be cut as Rishi Sunak contemplates "creative" ways to help firms beyond the end of the furlough scheme after almost 700,000 people lost their jobs between March and August. https://bit.ly/35FoxnF



Sky News


- Retail energy company Ovo Energy Ltd is to raise 300 million pounds from a share sale as it pursues further international expansion and investment in its technology platform. https://bit.ly/2E41cjY


- UK fashion retailer New Look has secured support for a restructuring plan that safeguards thousands of jobs. https://bit.ly/3mplQwm




The Independent


- Tourist and consumer confidence in UK has begun to tail off again after a recovery in the summer months, representatives of the hospitality industry have warned. https://bit.ly/2FBpO42



($1 = 0.7765 pounds) (Compiled by Bengaluru newsroom)