UK's Sunak authorises bailout plan to rescue strategically important companies - FT

British Finance Minister Rishi Sunak has authorized a bailout plan to rescue companies that are seen as strategically important, with the state expected to buy stakes in crucial businesses that are facing acute financial problems, the Financial Times newspaper reported https://on.ft.com/3eeNJSN.

Under the plan, which is named 'Project Birch', the finance minister has raised the UK Treasury's capacity to handle bespoke bailouts of "viable companies which have exhausted all options", including government loan schemes, the newspaper reported.