Financial Times - 24 February

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Headlines

- UK and India resume trade talks to increase investment opportunities

- UK pledges 200 million pounds for Grangemouth refinery

BMW suspends investment plan of 600 million pounds to produce electric Minis at Oxford

Shein profits plunge in new challenge to London IPO

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Britain and India are resuming talks to reach a long-awaited deal on trade. The negotiations had been delayed due to the elections held in both countries.

The UK Government has committed to invest 200 million pounds ($253,26 million) in projects at Grangemouth, as the closure of Scotland's sole oil refinery is planned for the next few months. This will result in redundancies among the workers.

BMW has suspended a 600-million-pound investment plan for the production of electric Minis in Oxford. This puts the future of this historic plant at risk, as the industry struggles to move away from petrol cars more slowly than expected.

Shein's profits fell by over a third in the last year. This is a further challenge for the fast fashion group ahead of its long-planned IPO, which would be the largest on the London Stock Exchange this decade. ($1 = 0.7897 pound) (Compiled from Bengaluru Newsroom)

(source: Reuters)