PRESS DIGEST- Financial Times - Nov 21

Headlines - Cost of UK plan to break Big Four stranglehold rises to 1 billion stg - FTX businesses owe more than $3 bln to largest creditors - Labour explores replacing House of Lords with elected chamber - UK business leaders urge Sunak to seek better EU relations Overview - The cost of plans to break the dominance of the Big Four accounting firms by forcing the largest UK companies to hire two sets of auditors has risen five-fold to about 1 billion pounds over 10 years, according to the latest government estimates.

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

- Cost of UK plan to break Big Four stranglehold rises to 1 billion stg - FTX businesses owe more than $3 bln to largest creditors

- Labour explores replacing House of Lords with elected chamber - UK business leaders urge Sunak to seek better EU relations

Overview - The cost of plans to break the dominance of the Big Four accounting firms by forcing the largest UK companies to hire two sets of auditors has risen five-fold to about 1 billion pounds over 10 years, according to the latest government estimates. https://on.ft.com/3AwiDDQ

- Sam Bankman-Fried's businesses owe more than $3 billion to their largest creditors, according to court filings, as the cryptocurrency group's huge bankruptcy process gets under way. https://on.ft.com/3As0iaP - Labour leader Sir Keir Starmer is exploring plans to scrap the House of Lords and replace the second chamber of the UK parliament with an elected body, as part of efforts to rebuild public trust in politics. https://on.ft.com/3EPhh9C

- Rishi Sunak, who will deliver a speech on innovation to the CBI employers annual conference on Monday, will face pressure from business leaders to soften the economic effects of Brexit, including opening the doors to more immigration to fill holes in the country's labour market. https://on.ft.com/3Gvt9yY (Compiled by Bengaluru newsroom)