Press Digest: British Business - August 13

Mastercard Incorporated

13/08/2026 04:23

Aug 13 (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 soaring valuation of Asian semiconductor stocks, and its $1.2 billion holding in SpaceX SPCX.O, helped Norway’s sovereign wealth fund to its strongest quarter in six years.
     
Karoline Leavitt is stepping down as the White House press secretary, leaving President Trump without one of his most combative communicators in the run-up to November's midterm elections.
     
     
The Guardian
Commercial ships travelling through the Panama canal are facing a rise in costs amid disruption triggered by the Iran war and falling water levels linked to this year’s intense El Niño weather system.
      
        
The Telegraph
Thames Water is battling at least 1,000 leaks a week as Britain's drought crisis leads to burst pipes across the capital.
     
     
Sky News
Mike Ashley's Frasers Group is hoping to announce the acquisition of Harvey Nichols through a pre-pack insolvency process on Thursday. 
     
Customers can expect payouts of up to £70 ($94.40) as part of a landmark group legal case against Mastercard MA.N next year after it settled outside court for £200m.
     
     
The Independent
 Back-to-back summer heatwaves have wiped £4.4 billion ($5.93 billion) from the UK economy so far this year, new research has found, with warnings further losses are likely as scorching temperatures become the new normal.
     
($1 = 0.7416 pounds)

(Compiled by Bengaluru newsroom)
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