PRESS DIGEST- Financial Times - Dec. 3

Reuters | Updated: 03-12-2021 06:25 IST | Created: 03-12-2021 06:25 IST
PRESS DIGEST- Financial Times - Dec. 3

The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines

- UK watchdog attacks 'inadequate' effort to tackle COVID-19 loan fraud - UK rejects US linking of steel tariffs and Northern Ireland trading rules

- Sweeping overhaul of UK listing rules comes into force - Shell pulls out of Cambo oil project in UK's North Sea

Overview - The British government's measures to prevent fraud in its bounceback COVID-19 loan scheme for small businesses were "inadequate," the National Audit Office said in a report on Friday, adding that the government needed to do more to recoup the estimated 5 billion pounds ($6.65 billion) that was stolen.

- British ministers on Thursday rejected the United States' linking of the lifting of metal tariffs with a dispute over post-Brexit trading rules in Northern Ireland and described it as a 'false narrative'. - The UK's Financial Conduct Authority has finalised an overhaul of the listing rules that are aimed at making London more attractive to fast-growing companies from technology and biotech sectors.

- Royal Dutch Shell has withdrawn from a contentious oil project in Britain's North Sea, stating on Thursday that the economic case for investment in the project is not strong enough. The project had become a battleground for environmental groups keen to stop the UK developing new oil and gas reserves. ($1 = 0.7520 pounds) (Compiled by Bengaluru newsroom)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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