Financial Times - Sept 4

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Headlines

SNP announces cuts of 500 million pounds as it warns about a 'new austerity era' in Scotland

France's Total seeks to strengthen Adani-France ties through new solar investments

The UK regulator will reduce the maximum fraud losses that banks must cover

Clearlake, Chelsea FC's co-owner, buys Natixis' private credit business

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After warning of a new "era of austerity", the Scottish finance secretary announced a 500 million pound ($655.40) cut in spending to relieve "enormous" pressure on the budgets of the devolved authorities.

TotalEnergies, the French oil and gas company, has signed a deal with the green energy division of Indian billionaire Gautam Adani's conglomerate to invest $444m in a portfolio of joint solar power projects.

After strong pressure from fintech companies and ministers, UK regulators will drastically scale back a regime that would force banks and payment firms to reimburse fraud victims for up to 415,000.

Clearlake Capital, a private equity firm, has signed a deal with Natixis to purchase an investment unit. This will allow the company to enter the rapidly growing private credit market.

(source: Reuters)