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British Business News – September 8th Press Digest


Sep 8, 2023

On September 8, the British newspapers reported on a variety of business-related stories. According to The Times, house prices in the UK are experiencing their sharpest decline since the financial crisis, reaching their lowest level in real terms since 2016. This drop is attributed to high interest rates, which are dampening the property market. The information comes from the latest index released by Halifax.

In other news, British American Tobacco has reached an agreement to sell its Russian and Belarusian business. The sale will be conducted through a consortium led by members of its Russian management team. This development was reported by The Times as well.

The Guardian highlights the opening of Britain’s largest electric vehicle charging hub in Birmingham’s NEC conference center. This facility has the capacity to charge up to 180 vehicles simultaneously and can complete the process in as little as 15 minutes. This is a significant step towards making electric vehicles more accessible and convenient for the public.

However, not all news is positive. Workers at a British weapons plant, responsible for supplying missiles to Ukraine, have announced a two-week strike. This action is a result of their dissatisfaction with the Ministry of Defence, whom they accuse of failing to conduct meaningful pay talks. This development was reported by The Guardian.

The Telegraph reports that Aldi, a leading supermarket chain, plans to expand its presence in the UK. The company aims to have 1,500 stores across the country, with a specific focus on targeting customers in London and the Home Counties.

Lastly, Sky News informs readers about ongoing discussions between the Confederation of British Industry (CBI) and Make UK, the manufacturers’ body. The two organizations are exploring the possibility of forming a closer alliance in areas such as industrial strategy policy. This potential partnership aims to provide better support for employers and the manufacturing sector in the UK.

Additionally, The Telegraph reports that Ken Hanna, the chairman of Restaurant Group, which owns Wagamama, will step down. This decision comes after facing pressure from activist investors for several months.

Please note that these news stories from British newspapers have not been verified by Reuters, and there is no guarantee of their accuracy.

By Editor

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