Press Digest: British Business - March 17
17/03/2023 01:26
March 17 (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
- UK's North Sea oil company Hurricane Energy HUR.L , which
was close to collapsing two years ago, is being taken over by
London-based oil refining firm Prax Exploration & Production in
a deal worth up to 249 million pounds ($300.6 million).
- The British government and healthcare unions on Thursday
agreed on a pay proposal with a 5% wage increase in the coming
year and urged workers to accept it, potentially ending strikes
that have disrupted the National Health Service (NHS) for
months.
The Guardian
- Britain's John Lewis Partnership warned it would have to
cut staff numbers and scrap any bonus this year after the retail
group fell into the red, posting a worse-than-expected 234
million pounds ($283 million) full-year loss.
- Britain's Rolls-Royce RR.L has received funding from the
UK Space Agency to develop a nuclear reactor for a moon base.
The Telegraph
- The public faces a rise in the British Broadcasting Corp
licence fee of 13 pounds next year, with the government under
pressure to cancel the increase.
- Hutchison 0001.HK -owned Three UK's investment in its
network is unsustainable in the long term unless it merges with
Vodafone VOD.L , admitted Robert Finnegan, the mobile network's
boss.
Sky News
- TikTok has been banned from UK government phones amid
security concerns around the Chinese-owned video app, Cabinet
Office minister Oliver Dowden announced.
- Former UK prime minister Boris Johnson has been
re-selected to run as the Conservative candidate in Uxbridge and
South Ruislip for the next general election.
The Independent
- Virgin Orbit VORB.O has "paused" its operations to deal
with a funding crisis, weeks after its failed UK space launch
from Cornwall.
- The Police Service of Northern Ireland has asked for 330
officers from the rest of the UK to assist with a massive
security operation during a visit to Northern Ireland by U.S.
President Joe Biden.
(Compiled by Bengaluru newsroom)
((globalnewsmonitoring@thomsonreuters.com))