PRESS DIGEST- Financial Times - May 16

Downing Street on Monday refused to say when Prime Minister Rishi Sunak would meet a Tory pledge to cut net migration, as high inflows of foreign workers, health staff and students drive numbers towards a record high. Ineos owner Sir Jim Ratcliffe has accused the British government of taxing the North Sea oil and gas industry "to death" and warned that plans to spend up to 1 billion pounds ($1.26 billion) upgrading key pipelines were at risk.

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 retailers raise prices of own-label ranges faster than those of brands Downing Street refuses to say when Rishi Sunak will deliver migration pledge

Ineos warns UK is taxing North Sea 'to death' Overview

UK retailers have been increasing the prices of their own-label grocery ranges faster than those of branded goods, even as customers turn to such ranges, which are often marketed as "budget", in the cost of living crisis. Downing Street on Monday refused to say when Prime Minister Rishi Sunak would meet a Tory pledge to cut net migration, as high inflows of foreign workers, health staff and students drive numbers towards a record high.

Ineos owner Sir Jim Ratcliffe has accused the British government of taxing the North Sea oil and gas industry "to death" and warned that plans to spend up to 1 billion pounds ($1.26 billion) upgrading key pipelines were at risk. ($1 = 0.7923 pounds) (Compiled by Bengaluru newsroom)

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