Press Digest: British Business - Oct. 4

Superdry

04/10/2023 01:11

Oct 4 (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 drugmaker AstraZeneca  AZN.L  reached a $425
million settlement to resolve long-standing lawsuits involving
an old blockbuster stomach acid drug Nexium and Prilosec in the
U.S.
    
    - Canadian investor Brookfield Asset Management  BN.TO  said
that its second Global Transition Fund is acquiring a family-run
British renewable energy company Banks Renewables for a deal
value of almost $1 billion including debt. 
    
    
    The Guardian
    - Diesel prices in the UK rose by more than 8 pence a litre
to 163 pence  in September, the fifth biggest monthly rise since
2000 after the extension of global oil production cuts from
Russia and Saudi Arabia, designed to bolster prices, pushed up
oil prices to almost $100 a barrel in September. 
    
    - Britain's biggest HS2 contractors have launched a last
effort to convince the UK prime minister Rishi Sunak not to
cancel high-speed rail line o Manchester, pledging to find cost
savings and private investment to make the scheme feasible.
        
    The Telegraph
    - UK minister for Energy Efficiency and Green Finance,
Callanan said he wants to move green levies from electricity to
gas in order to discourage the use of traditional home boilers,
making  electricity cheaper and gas more expensive.
   
     - UK conservative peer and party treasurer Leigh speaking
at a meeting on tax at the Conservative Party's annual
conference in Manchester suggested the UK government  should
raise taxes on mansions, penthouses and other luxury properties.
    
    
    Sky News
    - London-listed fashion retailer Superdry  SDRY.L  is close
to striking a partnership with India's biggest retailer Reliance
Brands about a new licensing joint venture, to help release tens
of millions of pounds to bolster its fragile balance sheet.
   
     - British online fashion retailer Boohoo  BOOH.L  has
reported a plunge in revenues, stated that an anticipated
recovery in group sales volumes proved weaker than expected in
the first half of its financial year.
    
    The Independent
    - About 3,000 members of the UK Rail, Maritime and Transport
union (RMT) called off planned strikes on the London Underground
following "significant progress" in talks over jobs and
conditions.
   
     - UK prime minister Rishi Sunak refused to confirm he will
scrap the northern leg of the HS2 line despite widespread
expectation that he will axe the project due to "enormous"
costs.
    

 (Compiled by Bengaluru newsroom)
 ((globalnewsmonitoring@thomsonreuters.com))