Press Digest: British Business - May 29

Revel Collective

29/05/2024 03:47

May 29 (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
    - Beatrice Offshore Windfarm Limited, a wind farm backed by
SSE  SSE.L , the London-listed energy group, has agreed to pay
33.1 million pounds ($42.2 million) in redress after Ofgem found
that it had charged “excessive prices” to lower its output.
    - Ithaca Energy's  ITH.L  veteran Executive Chairman Gilad
Myerson stepped down on Tuesday, as the company announced a new
line-up of executives to lead the company after the closing of
its purchase of Eni's  ENI.MI  UK assets.

    The Guardian
    - UK's Boohoo Group's  BOOH.L  bosses have waived their
annual bonuses and scrapped plans to raise executive awards
after talks with certain shareholders.
    - UK's Labour Party's finance policy chief Rachel Reeves has
said there will be no budget until September if Labour wins the
election, and the party will not announce any additional tax
measures beyond what it has already promised.

    The Telegraph
    - Royal Mail's parent company, International Distributions
Services  IDSI.L , is poised to accept a 3.5 billion pounds
takeover offer from Czech billionaire Daniel Kretinsky.
    - Energy firm Shell  SHEL.L  is preparing to axe staff in
its offshore wind business, as chief executive Wael Sawan
pursues a move away from renewables.

    Sky News
    - British supercar maker McLaren Group has bolstered its
board with a trio of appointments including former Rolls-Royce
 RR.L  boss Torsten Muller-Otvos.
    - Revolution Bars  RBG.L  has rejected a proposed offer from
rival Nightcap - describing its bid as "incapable of being
delivered".

($1 = 0.7843 pounds)

 (Compiled by Bengaluru newsroom)
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