Press Digest: British Business - July 2
PRESS DIGEST-British Business - July 2 July 2 (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
- Getty Images GETY.N has called off its planned merger with Shutterstock SSTK.N due to the UK competition regulator's requirement to sell Shutterstock's editorial business as a condition for approval.
- Britain's water company United Utilities UU.L faced criticism from proxy adviser ISS over a proposal to grant CEO Louise Beardmore a 435,000 pound ($578,028) annual share allowance.
The Guardian
- The European Union's car industry has called for the UK to be fully included in new "made in Europe" rules that threaten to shut out British manufacturers from their biggest export market.
- Lloyds Banking Group LLOY.L has announced it is axing the Halifax brand.
The Telegraph
- Andrew Bailey has said cutting interest rates is "off the table at the moment", in a signal that the Bank of England will keep borrowing costs on hold later this month.
Sky News
- London-based department store group Harvey Nichols have asked suitors to submit indicative offers by the middle of July, implying a rapid timetable for a sale of the business.
- BBC staff could see a real-terms pay cut in the year ahead, a proposal shows, just weeks after the announcement that hundreds of roles are to be axed..
The Independent
- Billionaire hedge fund manager Michael Platt said Britain was "no longer a serious contender" for business after his BlueCrest Capital Management lost a 200 million-pound tax battle against HMRC in the Supreme Court.
($1 = 0.7526 pounds)
(Compiled by Bengaluru newsroom)