British Business - July 8
July 8 (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
- Schroders, UK's biggest investment group that oversees about 760 billion pounds ($973.26 billion) of assets, warned that a gap between executive pay of British and American companies risks a flight of talent to the United States.
- Administrators of Fortress Capital Partners, a failed investment business backed by celebrities and members of a south London church, have labelled it a "Ponzi" scheme and say they wish to pursue the bankruptcy of its directors.
The Guardian
- Jonathan Reynolds, Britain's new business secretary, said he will press for "job guarantees" in return for taxpayer-funded investment during talks with the Indian-owned Tata Steel TISC.NS about the future of its flagship Port Talbot site.
- Martin Seidenberg, the boss of Royal Mail's parent company said he will push on with a transformation plan to revamp the company's deliveries despite uncertainty created by the Czech energy tycoon Daniel Kretinsky's 3.57 billion pound ($4.57 billion) takeover, which has been backed by the board.
The Telegraph
- British Airways ICAG.L and easyJet are battling in High Court to throw out a case against them in which the carriers have been sued over claims they must automatically compensate travellers whose flights are severely delayed or cancelled, a development which risks forcing airlines to pay out hundreds of millions of pounds to passengers over late flights.
Sky News
- British fintech company Revolut's CEO Nikolay Storonsky will cash in part of his multibillion dollar stake in the company as part of a $500 million share sale.
($1 = 0.7809 pounds)
(Compiled by Bengaluru newsroom)
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