PRESS DIGEST-British Business - Feb 10

The Times
** Britain has paid a fine of more than 2.3 billion pounds
($2.79 billion) to Brussels for allowing Chinese gangs to flood Europe with cheap clothes and shoes.
** Ukraine is prepared to use British long-range missiles to hit Crimea, the peninsula annexed by Russia in 2014, in a potential major escalation of western involvement in the war. The Guardian
** Deliveroo is to cut 350 roles amid a fall in online orders as cash-strapped consumers rein in spending.
** NatWest Group Plc has announced it will stop offering loans to new customers hoping to fund oil and gas exploration, extraction or production projects, as part of a wider climate transition plan due to be unveiled next week. The Telegraph
** The National Education Union has called off a Valentine's Day strike after being offered an 8% pay rise.
** News Corp , which owns The Times and The Sun in the UK, said it will reduce its headcount by around 5 per cent this year as it grapples with higher interest rates and costs. Sky News
** The UK communications regulator Ofgem has launched an investigation into broadband and phone bill price rises as research suggested many customers are unaware providers can increase costs.
** Saga has entered exclusive talks to sell its underwriting arm to Australian insurance group Open as it seeks to strengthen its balance sheet ($1 = 0.8253 pounds) (Compiled by Bengaluru newsroom)