Financial Turmoil: High-Stakes Debates and Strategic Moves in UK's Economic Landscape

The Financial Times highlights intra-board strife over HSBC's next chair, Wood Group's controversial UAE takeover, Reform UK's stringent budget reform aimed at EU citizens and aid, Trafigura's major fraud allegations against Prateek Gupta, and the UK's bank deposit guarantee increase amid inflation concerns.

The HSBC board faces internal conflicts over choosing a successor to outgoing chair Mark Tucker. Candidates like George Osborne are reconsidered amidst regulatory pressures.

Wood Group shareholders approve UAE's Sidara's buyout at a slashed price, pending regulatory agreement. Reform UK's budget proposal targets EU citizens' benefits as part of savings strategy.

Trafigura battles allegations against Prateek Gupta in a London court over a $500 million fraud. The UK's bank deposit guarantee will rise to £120,000 in response to inflation, strengthening consumer trust.

(With inputs from agencies.)