Press Digest: British Business - Jan 11
11/01/2019 24:27
Jan 11 (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
- British PM Theresa May was appealing to Britain's biggest
unions last night in an attempt to win Labour support for her
Brexit deal. The prime minister called Len McCluskey, the head
of Unite, as she intensified her efforts to build support across
party lines. http://bit.ly/2RnmDlm
- The City watchdog Financial Conduct Authority is expected
to scrutinise share trades at Brighton Pier Group PLC PIER.L
after a 14 per cent fall in the stock price in the two days
before yesterday's profit warning. http://bit.ly/2RmceGV
- Jaguar Land Rover workforce will be cut by 6,000, or 15
per cent, with a decision to axe a further 4,500 jobs this year.
Separately, Ford Motor Co F.N has warned that more than 7,000
engine and gearbox manufacturing and development jobs are under
threat as it is shaking up its European operations. http://bit.ly/2Rn5ubM
The Guardian
- The chairman and chief executive of Debenhams PLC DEB.L
have been ousted from the retailer's boardroom after two major
shareholders – including Mike Ashley's Sports Direct
International PLC SPD.L voted against them. The chairman, Ian
Cheshire, stepped down immediately while the chief executive,
Sergio Bucher, will stay on but not as a director. http://bit.ly/2Ri67Dn
- Tesco TSCO.L and Marks & Spencer MKS.L have become the
latest big names to reveal that they are stockpiling packet and
tinned foods as retailers' no-deal Brexit preparations move up a
gear now that the frenetic Christmas trading period is behind
them. http://bit.ly/2RjbO3Y
The Telegraph
- The energy industry regulator Ofgem has admitted that
there are too many unsustainable energy suppliers providing gas
and electricity to British homes after it encouraged a stampede
of startups into the market. http://bit.ly/2RnjBO0
- Biotech company Angle has scored a win after its blood
testing technology was central in helping doctors discover a
potentially ground-breaking treatment for cancer. The Aim-listed
firm's device, called Parsortix, is able to catch tumour cells
circulating in the blood through a simple blood test. http://bit.ly/2Rjudhd
Sky News
- Honda Motor Co 7267.T will stop production for six days
in April due to Brexit logistics and border disruption.
Production at its Swindon plant will halt days after the UK
leaves the EU to help the company cope with any problems around
the exporting of cars and importing of spare parts. http://bit.ly/2Ro3nUY
- Regional Airline Flybe FLYB.L is close to being taken
over by a consortium led by Virgin Atlantic in a cut-price deal
that will underscore the aviation sector's huge financial
challenges. Virgin Atlantic has agreed to join forces with
Flybe's other suitor, Stobart Group Ltd STOB.L , to form a new
company that will also comprise the Stobart Air franchise
operation. http://bit.ly/2Rnkhmw
The Independent
- A no-deal Brexit would be "catastrophic" for the UK's food
supplies, farmers have warned. The UK's four farmer's unions
have urged MPs to take "all necessary steps" to avoid crashing
out of the EU with a no-deal Brexit as it would have "serious
implications", including higher prices for consumers and
disruption to food supplies. https://ind.pn/2RjeHBQ
(Compiled by Bengaluru newsroom;
Editing by Sandra Maler)
((globalnewsmonitoring@thomsonreuters.com))