Press Digest: British Business - Jan 31

THG

31/01/2025 03:52

Jan 31 (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 home improvement retailer Homebase collapsed into
administration owing more than 650 million pounds ($806.98
million) to unsecured creditors including the retailers AO World
 AO.L , Halfords  HFD.L  and the Hut  THG.L , it has been
disclosed.
    
    - British health secretary Wes Streeting has abandoned
pledges on women's health and dementia as he halved the number
of NHS targets in a drive to end a "culture of overspending".
    
    
    The Guardian
    - Britain's Royal Mail  IDSI.L  is set to be allowed to
deliver second-class letters on alternate weekdays and to stop
Saturday deliveries under proposals to shake up postal service
rules announced by the industry regulator, Ofcom. 
    
    - Staff at the Daily Mail and MailOnline have been told to
expect job cuts by the publisher as it unveiled plans to combine
its digital and print editorial and commercial teams into one
seven-day operation.
    
        
    The Telegraph
    - Abu Dhabi-backed group RedBird IMI has stepped up
discussions to merge All3Media, the independent production house
behind The Traitors, which it acquired for 1.2 billion pounds
last year, with ITV  ITV.L  Studios to create a film and TV
powerhouse worth almost 3 billion pounds. 
    
    - Channel 4 has demanded that tech giants be forced to
promote mainstream news to fight the spread of misinformation on
social media.
    
    
    Sky News
    - India's richest family, Ambani, has clinched a landmark
deal to buy a 49% stake in the Oval Invincibles in a deal that
will unite the London-based team with the ownership of the
Indian Premier League's Mumbai Indians.
    
    - Former Aviva chief Mark Wilson has agreed to become the
new chairman of the personal lines insurer, Policy Expert which
is jointly owned by Cinven and a subsidiary of Abu Dhabi state
fund.
    
    

    ($1 = 0.8055 pounds)

 (Compiled by Bengaluru newsroom)
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