The top stories on the business pages of British newspapers on Nov 22 are as follows. Reuters has not verified these stories and does not vouch for their accuracy.
The Times reports that Paul Marshall is attempting to derail an Abu Dhabi bid to refinance the Barclay family’s 1.2 billion pound ($1.50 billion) debt, potentially paving the way for a foreign takeover of the Telegraph newspapers. Additionally, the boss of the cryptocurrency exchange Binance has pleaded guilty to money-laundering charges and will pay a $50 million fine as part of a $4 billion-plus settlement to resolve a lengthy inquiry by U.S. prosecutors.
According to The Guardian, the outcome of the Brexit vote and subsequent years of political uncertainty have chilled business investment in Britain, said a deputy governor of the Bank of England. Further, Europe’s energy and electric vehicle industries could reduce their dependency on scarce raw materials from China after the launch of a “breakthrough” sodium-ion battery, according to Northvolt.
In a report by The Telegraph, Stellantis is in negotiations with CATL, the world’s biggest maker of batteries for electric vehicles (EVs), over a joint venture to make cheaper power cells. Additionally, the minimum wage in the UK is set to increase by 1 pound an hour to 11.44 pounds from next April, as Chancellor Jeremy Hunt aims to boost almost three million of the poorest workers.
As per Sky News, Deliveroo’s riders cannot be represented by a trade union for the purposes of collective bargaining, the UK’s highest court has ruled. The electricity, phone, and broadband provider arm of Shell has been fined 1.4 million pounds by the communications regulator for breaking customer protection rules.