Press Digest: British Business - June 3
03/06/2024 01:26
June 3 (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 Labour Party has held talks with the boss of Shein to
try to persuade the Chinese-founded fast-fashion company to opt
for a London float.
- The UK's electric vehicle infrastructure fund has invested
35 million pounds ($44.6 million) in a Hertfordshire-based
start-up Energy Park that installs charging points in communal
car parks.
The Guardian
- Union leaders are preparing to ramp up industrial action
at two south Wales steelworks, Port Talbot and Llanwern works,
in a further escalation of a row over almost 3,000 job losses
that threatens to become a big general election issue.
The Telegraph
- Britain's councils are preparing a 1.4 billion pounds
($1.78 billion) record fire sale in assets and cancelled
investments as they scramble to plug a debt black hole ahead of
the election.
- Rolex has raised the price of some of its precious metal
watches in the UK following a surge in interest among investors
in gold as a safe haven asset.
- British driverless car champion Wayve is planning to put
its cars on the streets of San Francisco, challenging US tech
giants including Elon Musk's Tesla TSLA.O and Google's
GOOGL.O Waymo.
Sky News
- Shein, which was valued at $66 billion in its last
fundraising, will file a confidential prospectus with the UK's
City regulator this month as it nears a London listing.
- Property Franchise Group TPFG.L is paying roughly 15
million pounds ($19.1 million) to buy estate agency chain Fine
and Country and the Guild of Property Professionals to
accelerate its expansion.
The Independent
- Diane Abbott has declared she intends to run as a Labour
candidate at the election as she denied she was offered a seat
in the Lords to stand down.
($1 = 0.7850 pounds)
(Compiled by Bengaluru newsroom)
((globalnewsmonitoring@thomsonreuters.com))