Press Digest: British Business - May 9

Oxford Cannabinoid Technologies Holdings

09/05/2024 04:52

May 9 (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
    - John Wood Group  WG.L  has rejected a 1.4 billion pounds
($1.75 billion) takeover bid from a smaller rival, Sidara,
saying it "fundamentally undervalued" the engineering
consultancy.
    - Oxford Cannabinoid  OCTP.L , a drugs company developing
cannabis-based medicines, is to delist from the London stock
market, blaming turbulent UK markets for exerting "continuous,
irrational and regressive pressure" on its share price.

    The Guardian
    - British Gas owner Centrica's  CNA.L  boss Chris O' Shea
has called for households to face mandatory smart meter
installations weeks after government figures showed that almost
4 million meters are not working.
    - James Watt, the co-founder and chief executive of BrewDog
 IPO-BWDG.L , is to step down after 17 years at the helm of the
Scottish brewer and bar chain, and will be replaced by the
company's chief operating officer, James Arrow.

    The Telegraph
    - The British online car retailer Cazoo is on the brink of
insolvency after failing to secure emergency funding and has
filed a notice that it intends to appoint administrators at the
High Court.
    - A treasure hunting company Argentum Exploration backed by
hedge fund billionaire Paul Marshall has lost a legal battle
over more than 2,000 silver bars recovered from a World War II
shipwreck.

    Sky News
    - Billionaire Mike Ashley's Frasers Group  FRAS.L  is
closing in on a deal to become the new British partner of
struggling fashion chain Ted Baker.
    - TSB, the UK banking arm of Spain's Sabadell  SABE.MC , is
seeking 250 job cuts and 36 branch closures.

    The Independent
    - British Conservative lawmaker Natalie Elphicke said she
had defected to the opposition Labour Party, becoming the second
Conservative to do so in the last two weeks.

($1 = 0.8004 pounds)


 (Compiled by Bengaluru newsroom)
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