Press Digest: British Business - April 30

Hipgnosis Songs Fund

30/04/2024 03:32

April 30 (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 Barclay family faces losing control of Very Group, the
last major holding in their business empire, as their lenders in
the Gulf plan a sale to recoup a 1.2 billion pounds ($1.51
billion) debt refinancing.
    
    - U.S. investment giant Blackstone  BX.N  has agreed to
acquire the Hipgnosis Songs Fund  SONG.L  for $1.57 billion
after topping a rival offer in the latest twist in the bidding
war for the London-listed music rights investment company.   
    
    
    The Guardian
    - Senior Whitehall officials fear Thames Water's financial
collapse could trigger a rise in government borrowing costs not
seen since the chaos of the Liz Truss mini-budget.
    
    - The grocery courier firm Getir is to quit the UK, Germany,
the Netherlands and the United States to focus on its home
market of Turkey amid heavy competition and waning demand for
rapid home deliveries.
    
        
    The Telegraph
    - Aurelius, the private equity buyer of The Body Shop, paid
just 3.5 million pounds ($4.39 million) upfront for the retail
chain before its collapse despite agreeing to a 207-mln-pound 
deal last year.
    
    - The chairman of Ocado  OCDO.L  has insisted that plans to
pay its founder Tim Steiner a bonus worth up to 14.8 million
pounds ($18.57 million) are fair, despite a shareholder backlash
against the proposals.
    
    
    Sky News
    - Monzo, the fintech which has become one of Britain's
biggest consumer banking groups, is this weekend putting the
finishing touches to an expanded fundraising involving one of
the world's best-known technology investors.
    
    - M&G  MNG.L , the London-listed owner of Superdry's
flagship store in central London, is weighing a challenge to a
rescue plan that would impose steep haircuts on the struggling
chain's landlords.
    
    
    The Independent
    - Humza Yousaf quit as Scotland's first minister in a huge
boost for Labour leader Sir Keir Starmer's hopes north of the
border.
    
   ($1 = 0.7972 pounds)

 (Compiled by Bengaluru newsroom)
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