The Financial Times front page warns that the chancellor’s windfall tax plans have had an impact on the market, with shares in some of Britain’s biggest power firms dropping sharply. Electricity generators are said by the paper to be “furious” over the scheme being widened to include them, with the boss of one firm saying the plans were “unbelievable” and “completely out of the blue”. But government insiders insist no decisions have been finalised over whether to target them and that the policy was “not straightforward”.
Kellogg is reportedly splitting into three separate companies. The Financial Times reports that the US company will retain its snack foods division while spinning off the cereals section and a smaller plant-based food division.
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