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PRESS DIGEST- Financial Times - Oct 7

Oct 7 (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

Sunak prepares new support for businesses hit by local lockdowns on.ft.com/33A4HIL

Taxpayers face losses of up to 26 bln stg on loan scheme, says watchdog on.ft.com/2GNn0Bh

GardaWorld steps up campaign against G4S in takeover battle on.ft.com/3iDVMun

Overview

British Finance Minister Rishi Sunak is drawing up plans for new Treasury support for businesses worst affected by new local lockdown restrictions, as the spread of coronavirus continues to accelerate in the north of England.

The taxpayer faces losses of up to 26 billion pounds because of fraud and company defaults on the government’s coronavirus loan scheme for small businesses, according to a report by UK parliament’s spending watchdog that revealed loopholes have already been exploited by criminals.

Canadian security firm GardaWorld, which was behind a hostile bid for G4S Plc has stepped up its campaign against the company’s management, pointing to five “potentially crippling” lawsuits as evidence that it requires new owners. (Compiled by Bengaluru newsroom)

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