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Monday newspaper round-up: Staff shortages, Evergrande, British Airways

Staff shortages are rippling out from the haulage, farming and hospitality sectors to almost all parts of the economy, putting “severe pressure” on medium-sized business across the UK, a new survey has warned. More than a quarter of the 500 firms polled said the lack of staff was putting pressure on their ability to operate at normal levels, with reduced stock – due to the resulting supply chain disruption – hurting their business. – Guardian
Trading in shares of debt-laden China Evergrande was suspended by the Hong Kong exchange on Monday after the enormous Chinese developer missed a key bond interest payment last week, its second offshore debt obligation in a week. Evergrande said trade was suspended “pending the release by the company of an announcement containing inside information about a major transaction,” sparking speculation it could sell its profitable property management unit. – Guardian

British Airways is close to reversing its decision to scrap short-haul flights from Gatwick airport, the Telegraph has learnt. Bosses at trade union Balpa will take a new pay deal to pilots after re-opening talks last week in the hope that they will support sweeping changes at Britain’s second-busiest airport. – Telegraph

The paralysing impact of staffing and supply chain shortages on British businesses has been laid bare by research showing a third of mid-size firms were forced to scale back their offering to customers even before the fuel crisis hit. More than 34 per cent of businesses said they had already reduced their product lines or services to manage staff or stock shortages by mid-September, according to a survey for BDO, the accountancy firm. A further 31 per cent of companies said that they would have to do so “unless the situation changes within the month”. – The Times

Swiss police have seized documents from Credit Suisse relating to the collapsed finance house Greensill Capital after raiding the offices of the bank. The operation was carried out at the request of Zurich’s public prosecutor, which has launched a criminal investigation into Greensill’s activities and the management of the British investment firm’s lending schemes using the Swiss bank’s funds. – The Times

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