Press Digest: British Business - Aug 2
02/08/2024 02:38
Aug 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
- Alex Beard, the former head of oil at Glencore GLEN.L ,
is among five former executives at the company to be charged by
the Serious Fraud Office with conspiring to make corrupt
payments to benefit its west African oil operations.
- Guild Esports GILDG.L , the gaming group backed by David
Beckham, is battling for survival less than four years after
joining the London stock market.
The Guardian
- Czech billionaire Daniel Křetínský's takeover bid for
Royal Mail IDSI.L has been called in by the UK government for
closer scrutiny of any national security risks including
potential links to Russia.
- The Bank of England cut interest rates for the first time
in four and a half years, easing pressure on households after it
raised borrowing costs to the highest level since the 2008
financial crisis in response to soaring inflation.
The Telegraph
- British Airways owner International Airlines Group
(IAG) ICAG.L terminated its proposed takeover of Spain's Air
Europa, citing regulatory environment concerns, less than two
months after it offered remedies to antitrust regulators to
secure approval for the deal.
- The budget airline Wizz Air WIZZ.L is planning to limit
its growth in Britain after weakening demand for flights sent
its share price plunging almost 17%.
Sky News
- Yodel, the parcel delivery group taken to the brink of
collapse earlier this year, will this week announce an 85
million pound ($108.13 million) funding package designed to
allay concerns about its future.
- Paul Marshall, the hedge fund tycoon and GB News
shareholder, is closing in on a deal to buy The Spectator, one
of Britain's most influential political media titles.
($1 = 0.7861 pounds)
(Compiled by Bengaluru newsroom)
((globalnewsmonitoring@thomsonreuters.com))