Press Digest: British Business - May 10

Hipgnosis Songs Fund

10/05/2024 04:35

May 10 (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
    - American AI infrastructure group CoreWeave will invest an
initial 1 billion pounds ($1.25 billion) in the UK, and set up a
London office which will serve as its European headquarters.
    - Blackstone  BX.N  looked set to clinch its $1.57 billion
deal for Hipgnosis Songs Fund  SONG.L  after Apollo-backed
Concord said on Thursday it would stick with its lower bid of
$1.51 billion for the company.

    The Guardian
    - Jeff Zucker, head of RedBird IMI, which last week
announced plans to drop its bid for the Telegraph, said he
should have taken a different approach to the deal and
immediately snapped up the Spectator magazine.
    - British foreign minister David Cameron has said the UK
will not be withholding arms sales to Israel.

    The Telegraph
    - HSBC Holdings  HSBA.L  is among several Asian-focused
financial services groups reportedly pushing ministers to keep
China outside of the strictest risk category of a new national
security regime, in a bid to soften new national security rules
seeking to crack down on China’s influence in the UK.
    - Claire Coutinho, UK's Energy Secretary, has shelved plans
for a pilot “hydrogen town” after a wave of protests against
earlier trials.

    Sky News
    - British trade union Community secured backing for action
and said more than 85% of its 3,000 members across all Tata
Steel  TISC.NS  UK production sites have voted for strike action
against the company's job cut plans.
    - Fruugo, a former IPO candidate considered a prime
candidate to float on the London stock market, has hired bankers
to pursue a sale and is working with DC Advisory on options for
its future.

    The Independent
    - Bank of England held UK's interest rates at 5.25% despite
hopes of a cut, with Bank of England Andrew Bailey saying there
needed to be more evidence inflation will stay low before
interest rates can be cut.

($1 = 0.7992 pounds)

 (Compiled by Bengaluru newsroom)
 ((globalnewsmonitoring@thomsonreuters.com))