Press Digest: British Business - May 2
02/05/2024 02:52
May 2 (Reuters) - The following are the top stories on
the business pages of British newspapers. Reuters has not
verified these stories and does not vouch for their accuracy.
The Times
- Shareholders in Smith & Nephew SN.L have revolted over
plans to increase pay for its U.S.-based executive directors
closer to American levels, one of a number of big public
companies to face investor rebellions at annual meetings on
Wednesday.
- A further 100 Matchesfashion employees have lost their
jobs after Mike Ashley's Frasers Group FRAS.L said it would
buy back only parts of the collapsed luxury platform.
The Guardian
- Manchester United MANU.N have announced that their
interim chief executive, Patrick Stewart, and chief financial
officer, Cliff Baty, will leave the club at the end of the
season.
- London's stock exchange is to lose another high-profile
company after shareholders in the Paddy Power owner Flutter
FLTRF.L backed a proposal to move its primary listing to New
York.
The Telegraph
- GSK GSK.L chief Dame Emma Walmsley has downplayed
concerns that British companies are failing to compete with
US-style executive pay packages and insisted she was "very well
paid" when asked about London's rewards system.
- Four large high street banks made a profit of more than 9
billion pounds ($11.27 billion) from the Bank of England's
money-printing programme Threadneedle Street last year, more
than double the 3.9 billion pounds they were handed in 2022.
Sky News
- Some of the leading players in Britain's night-time
economy like Nightcap NGHT.L and Rekom are among the parties
that expressed interest in buying part or all of the
London-listed leisure group Revolution Bars RBG.L .
- Buyout firms including Bridgepoint and Cinven are circling
for a takeover of financial services consultant Alpha Financial
Markets Consulting AFM.L , which has a market capitalisation of
nearly 400 million pounds ($500.84 million).
The Independent
- A Barclays BARC.L London office was cordoned off by
police on Wednesday after pro-Palestine protesters are alleged
to have sprayed the building with red paint.
- More than half a million firms in Britain are in
"significant" financial distress, with thousands facing
insolvency over the coming months as Britain's economy continues
to stutter, a new report has said.
($1 = 0.7987 pounds)
(Compiled by Bengaluru newsroom)
((globalnewsmonitoring@thomsonreuters.com))