• Thu. Nov 30th, 2023

UK Business Updates for November 22nd: A Comprehensive Overview


Nov 22, 2023

Here is a rewritten version of the article:

Nov 22 (Reuters) – The following are the top business stories from British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.

The Telegraph – Stellantis, the world’s second-largest automaker, is in talks with CATL, the world’s biggest battery maker, to form a joint venture that would produce cheaper power cells for electric vehicles (EVs). Meanwhile, the UK minimum wage will increase by £1 an hour to £11.44 from next April, giving a boost to almost three million low-paid workers.

The Guardian – The boss of Binance pleaded guilty to money laundering charges and will pay a $50 million fine as part of a $4 billion-plus settlement with U.S. prosecutors. Additionally, Europe’s energy and electric vehicle industries have the potential to alleviate the chilling impact of Brexit on business investment in Britain, according to a deputy governor of the Bank of England. Northvolt also announced plans to reduce its dependency on scarce raw materials from China after launching a “breakthrough” sodium-ion battery.

The Times – Paul Marshall has launched a last-minute attempt to derail an Abu Dhabi bid to refinance his family’s £1.2 billion debt, which could pave the way for a foreign takeover of The Telegraph newspapers. Meanwhile, uncertainty caused by years of political instability following Brexit has had a chilling effect on business investment in Britain

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