PRESS DIGEST- Financial Times - Aug 3

Reuters | Updated: 03-08-2022 05:39 IST | Created: 03-08-2022 05:39 IST
PRESS DIGEST- Financial Times - Aug 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

Bain barred from UK state contracts over 'grave misconduct' in S Africa Robinhood to slash headcount by 23% as retail trading bubble bursts

Missfresh hit by lawsuits from investors and employees Travellers face higher fares after BA extends suspension of Heathrow ticket sales

Overview Boston-based global management consultant Bain & Co was hit with a three-year ban on tendering for British government contracts because of its "grave professional misconduct" in a major corruption scandal in South Africa.

Robinhood is laying off almost a quarter of its staff as the company that rode the coronavirus pandemic-era retail trading boom and promised to revolutionise stockbroking contends with a decline in customer activity. Laid-off employees and investors are suing collapsed Chinese grocery delivery company Missfresh and the Wall Street underwriters who marketed its shares in a $300 mln New York offering last year over unpaid salaries and alleged violation of securities laws.

British Airways said on Tuesday it would be suspending short-haul ticket sales until Aug. 15 - a week longer than first announced 24 hours earlier. (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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