Press Digest: British Business - Feb 20

GXO Logistics

20/02/2025 02:51

Feb 20 (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
    -The chief financial officer of John Wood Group  WG.L 
Arvind Balan has resigned after it emerged that his professional
qualifications had been misstated.
    -American private equity firm KKR  KKR.N  and Chinese
billionaire Li Ka-shing have lodged separate offers to buy a
majority stake in Thames Water with the U.S. group offering 4
billion pounds ($5.03 billion) to take control of the troubled
utility. 
    
    
    The Guardian
    -Britain and France are leading efforts to create a European
"reassurance force" intended to prevent future Russian attacks
on Ukrainian cities, ports and critical infrastructure in the
event of a U.S.-brokered peace deal. 
    - The Office for Nuclear Regulation (ONR) has taken
Sellafield, the world's largest store of plutonium, out of
special measures for its physical security, but said concerns
remained over its cybersecurity. 
    
        
    The Telegraph
    -The Competition and Markets Authority (CMA) warned on
Wednesday that the acquisition of haulage company Wincanton by
American giant GXO Logistics  GXO.N  would "likely reduce
competition" and raise costs for grocers. 
    -Rachel Reeves is considering plans to cut the cash Isa
tax-free limit to just 4,000 pounds a year, after a meeting with
fund managers. 
    
    
    Sky News
    - British investment firm Rosebank Industries  ROSE.L  is
pursuing a $2 billion acquisition of U.S.-based Electrical
Components International (ECI), a maker of wire harnesses, Sky
News reported on Wednesday, citing sources.
    -British Prime Minister Keir Starmer has spoken with 
Volodymyr Zelenskiy to give the Ukrainian president his backing
after U.S. President Donald Trump called him a "dictator".

($1 = 0.7947 pounds)

 (Compiled by Bengaluru newsroom)
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