Monday newspaper round-up: Immigration rules, FTX, Twitter, Gieves & Hawkes

Britain’s foremost business lobby group has urged Jeremy Hunt to use this week’s autumn statement to shake up immigration rules to support companies struggling with chronic staff shortages and a looming recession. The head of the Confederation of British Industry (CBI) said urgent action was required from the chancellor on Thursday to bolster the economy, including “tough political choices” to allow more overseas workers in Britain as employers struggle with a desperate lack of staff. – Guardian

Bus services will not survive without sustained Treasury funding, campaigners and industry groups have warned the chancellor after the cutting of hundreds of routes in recent months. Transport charities and trade bodies have written to Jeremy Hunt asking for support before this week’s autumn statement urging him to guarantee short-term funding, give targeted help to local authorities, and bring in better long-term financial settlements. – Guardian

Embattled cryptocurrency exchange FTX has been rebuked by regulators in the Bahamas after it claimed local laws meant it had to allow customers in the Caribbean to make withdrawals even as others around the world were locked out. The Securities Commission of The Bahamas said it had "not directed, authorised or suggested" that Bahamian clients be given priority and allowed to withdraw their cash last week, as the company was teetering on the brink. – Telegraph

Mike Ashley’s Frasers Group is close to agreeing a deal to buy Gieves & Hawkes, an ailing Savile Row tailor. Frasers is in advanced talks to buy the brand after its Hong Kong-based owner collapsed into liquidation, according to Sky News. Mr Ashley’s group has been considering the acquisition of Gieves & Hawkes – which was put up for sale earlier this year – since September. – Telegraph

Twitter culled thousands of contractors at the weekend, according to reports, a week after halving its full-time workforce following Elon Musk’s $44 billion takeover. Some realised they no longer worked for the social media group when they struggled to log on to its computers. – The Times