Press Digest: British Business - August 7
PRESS DIGEST-British Business - August 7 Aug 7 (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
- Diageo's DGE.L new CEO Dave Lewis unveiled a $1 billion cost-cutting plan on Thursday, saying the world's top spirits maker must adapt to a prolonged period of weak growth.
- John Whittaker's Peel Group has offered closeto £583 million ($784.25 million) to acquire Harworth Group HWG.L, a land and property regeneration company and take it private.
The Guardian
- Apollo Global APO.N has agreed to buy EasyJet EZJ.L in a deal that values the European budget airline at about £5.70 billion, the companies said on Thursday, as rival suitor Castlelake abandoned its pursuit.
- Britain's government and its competition watchdog cleared Paramount's $110 billion acquisition of Warner Bros. Discovery on Thursday after David Ellison provided reassurances, leaving U.S. states led by California as the final major hurdle to the deal.
The Telegraph
- British advertising giant WPP WPP.L has cut more than 1,200 jobs as it seeks to accelerate a turnaround plan after years of turmoil…
- U.S. President Donald Trump has dropped his claim that the BBC caused financial harm to his businesses as part of his $10 billion defamation battle with the broadcaster.
Sky News
- British fashion brand Joseph has drafted in City advisers to help examine a potential sale of the label amid a revival of the firm's fashion credentials after its heyday during the 1990s.
The Independent
- Dutch bicycle maker Accell said it had started insolvency proceedings as it is unable to meet its financial obligations amid a prolonged downturn in the European bike industry.
($1 = 0.7434 pounds)
(Compiled by Bengaluru newsroom)