UK Labour's Tax Pledge Faces Challenges Amid North Sea Emissions Cut

Top stories from the Financial Times include UK Labour's tax pledge challenging North Sea emissions plans, Ocado's retention of its M&S stake, UK ports seeking compensation if EU trade barriers are lowered, and Kemi Badenoch joining the Tory leadership race to succeed Rishi Sunak.

UK Labour's tax pledge is set to test the feasibility of reducing North Sea emissions, warns Equinor CEO Anders Opedal. The company's electrification plans for the Rosebank oil field may face challenges under the proposed tax policies.

Ocado's Chief Executive Tim Steiner aims to retain the group's stake in its joint venture with Marks & Spencer upon the deal's five-year anniversary, a move that enables either side to sell their shares.

UK ports demand compensation from the Labour government if a deal is struck to lower post-Brexit trade barriers with the EU, after significant investments in border control facilities.

In the political arena, former British business minister Kemi Badenoch has thrown her hat into the ring to become the Conservative leader, succeeding the outgoing Rishi Sunak. She becomes the sixth candidate in the race.

(With inputs from agencies.)