Press Digest: British Business - March 6
06/03/2024 24:37
March 6 (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
- British telecommunications testing firm Spirent Communications
SPT.L has agreed to a 1 billion pound ($1.27 billion) all-cash
takeover from American-based Viavi Solutions VIAV.O .
- British digital bank Monzo has raised 340 million pounds at a
4 billion pound valuation.
The Guardian
- Reach RCH.L , the publisher of the Mirror and Express
newspapers, has cut the amount set aside to deal with legal
claims relating to phone hacking and unlawful
information-gathering to 18.2 million pounds.
- Birmingham City council approved a set of cuts that will see
the loss of up to 600 council jobs, arts grants scrapped,
libraries closed and bin collections reduced to fortnightly.
The Telegraph
- More than 100 MPs in the UK have backed powers for Parliament
to block the proposed Abu Dhabi takeover of The Telegraph.
- JO Hambro Capital, a top Currys CURY.L shareholder,
criticised the dismal valuations the London stock market
attaches to businesses, saying Currys should be worth far more
than what investors have valued it at.
Sky News
- Private equity firm CVC Capital Partners could revive an
Amsterdam stock market listing, valuing it at well over $15bn as
soon as next month.
- TalkTV, publisher of the Sun and the Times and owned by News
Corp NWSA.O , is to be taken off air in a move to online-only,
two years on from its launch.
The Independent
- British finance minister Jeremy Hunt will cut social security
contributions by two percentage points, putting an average of
900 pounds a year into the pockets of workers when combined with
a similar move from last November.
$1 = 0.7872 pounds)
(Compiled by Bengaluru newsroom)
((globalnewsmonitoring@thomsonreuters.com))