Press Digest: British Business - July 15

Frasers

15/07/2026 04:29

July 15 (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
Mike Ashley's Frasers Group FRAS.L has forced its way into the sale process for the struggling luxury retailer Harvey Nichols, causing concern among brand partners and raising the prospect of a bidding war with Next.
Demis Hassabis, the British technology entrepreneur behind Google DeepMind, has called for a U.S.-led global artificial intelligence watchdog to test the most advanced models and co-ordinate a slowdown in their development if necessary.
     
The Guardian
South East Water will pay £30.5 million ($40.86 million) after a series of supply interruptions, customer failings and for breaching its licence, the regulator Ofwat has said.
Bank of England governor Andrew Bailey has called for international cooperation to tackle growing AI threats, warning that the U.S. and the  Trump administration would not be able to achieve their ambitions alone. 
     
The Telegraph
Britain's relationship with the EU is more important than any other alliance, Rachel Reeves has said in what's expected to be her final set-piece speech as the British finance minister.
Andrew Boff, the chairman of the London Assembly, has claimed he was debanked by HSBC-owned First Direct after a visit to Ukraine. He received a letter from First Direct informing him that the retail bank would close his accounts in 90 days, on October 6.
     
Sky News
Britain will introduce a default overnight curfew on  social media  apps for 16- and 17-year-olds, the government said, adding new restrictions for older teenagers to its plan to introduce a sweeping ban on social media for under-16s.
Lenders to Thames Water have reassured Britain's biggest water utility of their intention to support the company with further financial backing over the next 15 months.
($1 = 0.7464 pounds)

 (Compiled by Bengaluru newsroom)
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