FINANCIAL TIMES PRESS DIGEST – MAY 10

FINANCIAL TIMES PRESS DIGEST - MAY 10

The top stories in the Financial Times are listed below. These articles have not been verified by Reuters, and we cannot guarantee their authenticity. Headlines UK inflation is ‘uncomfortably high,’ according to a Bank of England rate setting  BAE Systems and Rolls-Royce secure 2 billion pound nuclear deterrence contracts in the United Kingdom The UK Treasury is looking into replacing the capital spending allowance.  Morrisons wins bid for McColl’s, a troubled British convenience store chain  Overview – Michael Saunders, one of the Bank of England’s interest rate setters, has warned that inflationary pressures are “uncomfortably high,” and that if the central bank fails to control them, the British economy will suffer “quite severe” consequences.

BAE Systems and Rolls-Royce have won defence contracts worth more than 2 billion pounds ($2.47 billion) as the UK moves ahead with the 31 billion programme to renew its nuclear deterrent. – British ministers have launched a consultation into replacing the temporary capital spending allowance that runs out next year, as concerns grow about companies’ ability to invest due to the impact of fast rising inflation. Wm Morrison on Monday said it would buy convenience store chain McColl’s out of administration after winning the battle with a last-minute offer that beat a rival bid from petrol station operator EG Group. ($1 = 0.8097 pounds) (Compiled by Bengaluru newsroom)

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