British Business - June 19
June 19 (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
- A CVC-led bidding consortium has lifted its informal offer for Hargreaves Lansdown HRGV.L to 5.4 billion pounds ($6.86 billion) and taken the unusual step of offering existing shareholders the chance to share in the investment platform's future success.
- Inflation in May is expected to have fallen to the UK's official target for the first time in three years, a decline likely to be highlighted by Prime Minister Rishi Sunak as evidence that the economy has stabilised.
The Guardian
- Workers demonstrated at Premier Inn owner Whitbread's WTB.L annual shareholder meeting on Tuesday over plans to cut 1,500 jobs amid rising profits.
- Britons have cut back on their supermarket shopping and traditional summer purchases because of recent poor weather, even though grocery price inflation slowed further, according to the retail researchers Kantar.
The Telegraph
- British start-up, Space Forge, that is preparing to launch robot factories into space, has secured funding from the Nato alliance's $1.1 billion (870 million pounds) investment fund.
- Marks and Spencer MKS.L has reversed its ban on alpaca wool, going back on its decision to ban the wool in 2020 following pressure from Peta, the animal rights group.
Sky News
- London-listed Chrysalis Investments CHRY.L and Target Global submitted a term sheet to insurance technology firm Wefox proposing to lead a 25 million euro ($26.85 million) capital injection to thwart a rival proposal from insurer Ardonagh.
($1 = 0.9312 euros)
($1 = 0.7870 pounds)
(Compiled by Bengaluru newsroom)
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