Press Digest: British Business - March 22

Virgin Money UK

22/03/2024 24:31

March 22 (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
    - Nationwide has warned of eventual "headcount reductions"
among the 7,300 staff at Virgin Money UK  VMUK.L  as the
building society pushed its agreed 2.9 billion pound ($3.67
billion) takeover of the listed bank over the line.
    - After two rejected takeover offers by the Belgian insurer
Ageas  AGES.BR , Direct Line  DLGD.L  has promised cost savings
of 100 million pounds and set itself a target for wider
insurance margins. 
    
    The Guardian
    - The UAE-backed bid for the Telegraph group appears to be
dead in the water after the UK published proposed laws that ban
foreign states or government officials from holding any direct
stakes in newspaper assets.
    - British women affected by an unexpected rise in the age at
which they were entitled to receive a state pension should be
compensated as the government communicated the change
inadequately, a report from the Parliamentary and Health Service
Ombudsman said on Thursday.
    
        
    The Telegraph
    - Waitrose is putting more than 500 jobs at risk as the
grocer prepares to shut a north London warehouse it opened just
four years ago.
    - As part of the AUKUS defence pact with Britain and the
U.S., BAE Systems  BAES.L  won a multi-billion pound contract to
build Australia's next-generation nuclear-powered submarines
along with domestic defence company ASC Pty and deliver the
vessels in the early 2040s. 
    
    Sky News
    - The next stage of Britain's Rwanda bill's progress has
been delayed until after the Easter recess as it remains stuck
in parliamentary limbo.
    - Carlyle  CG.O  is among a pack of suitors circling RSK, a
British-based environmental consultancy, in a deal that would
value it at well over 1 billion pounds. 
    
    The Independent
    - Bank of England Governor Andrew Bailey said the economy is
"not yet at the point" where rates can be lowered, but said
things are "moving in the right direction", giving a clear sign
that cuts could be on the way, after voting to keep interest
rates unchanged.
    
    


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