British Business - July 5
July 5 (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 savings and life insurance company Utmost is aiming for a 2 billion pounds ($2.55 billion) flotation in London within two years after striking a deal to buy Lombard International, the wealth manager.
- Tata Steel TISC.NS has snubbed unions and closed one of two blast furnaces at its biggest plant under plans to switch to a greener form of production.
The Guardian
- The British banking sector has called for the next government to penalise startups that take state aid and then list abroad amid concerns about young companies choosing foreign stock exchanges over London.
- The EU's top trade official, Valdis Dombrovskis, has brushed aside concerns of trade-war retaliation from Beijing against European business, after the European Commission imposed duties on Chinese electric vehicles.
The Telegraph
- British Gas has filed a record number of winding-up petitions against small businesses, threatening to tip restaurants and care homes into bankruptcy.
- The boss of British Airways owner IAG has warned that air fares are poised to rise across Europe as carriers pass on the cost of net zero to passengers.
Sky News
- Cinema chain operator Cineworld is drawing up plans to axe dozens of British cinemas as part of a radical restructuring that would also include extensive rent cuts.
($1 = 0.7835 pounds)
(Compiled by Bengaluru newsroom)
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