October 24, 2019 / 12:58 AM / a month ago

PRESS DIGEST- Financial Times - Oct 24

Oct 24 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

WeWork plans to cut 4,000 staff on.ft.com/2N8rsKv

Metro Bank Plc chair Vernon Hill quits as losses widen on.ft.com/2paDXx7

Shop Direct surprises bondholders with big PPI provision on.ft.com/2Nbw0Qg

Donald Tusk seeks EU consensus on fresh Brexit delay on.ft.com/2JimpGc

Overview

U.S. office-sharing startup WeWork is planning to cut as many as 4,000 jobs as part of a turnaround plan put in place by Japan’s SoftBank Group Corp after it took control of the co-working business this week.

Metro Bank Plc co-founder Vernon Hill stepped down as chairman with immediate effect as the bank’s latest quarterly results showed further fallout from a major reporting error earlier this year.

UK online retailer Shop Direct posted a bigger-than-expected payment protection insurance provision, which could push its owners, the billionaire Barclay brothers, to plough more cash into the group.

European Council president Donald Tusk was fighting to forge consensus among EU member states on Wednesday for a Brexit delay to January 31, a day after UK Prime Minister Boris Johnson lost a vote in the House of Commons about implementing his Brexit deal. (Compiled by Bengaluru newsroom)

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