PRESS DIGEST- Financial Times - April 22

·1 min read

April 22 (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

- BoE plans to reshape Leeds hub in levelling-up move https://on.ft.com/3xgOKnS

- UK companies in financial distress rise at fastest pace in 7 years https://on.ft.com/2QMHqiQ

- Super League plan collapses as more clubs pull out https://on.ft.com/32BgZ2l

- Lawmakers and investors push for extension to tax relief for UK social enterprises https://on.ft.com/3gqTNfq

Overview

- The Bank of England is closing its cash distribution centre in Leeds while planning to establish a new northern hub in the city as part of a move to bolster its regional presence around the UK.

- The number of British companies in significant financial distress has risen at the fastest rate in more than seven years, sparking warnings that "the dam of zombie businesses could be about to break" when government COVID-19 support comes to an end in the summer.

- Plans to create a breakaway European Super League have collapsed after most of the football clubs involved said they would quit the controversial project.

- British lawmakers and business leaders have called on the government to extend tax relief for social enterprises after investors warned that they would struggle to use the existing scheme. (Compiled by Bengaluru newsroom)