British Business - May 29
May 29 (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
- Beatrice Offshore Windfarm Limited, a wind farm backed by SSE SSE.L, the London-listed energy group, has agreed to pay 33.1 million pounds ($42.2 million) in redress after Ofgem found that it had charged “excessive prices” to lower its output.
- Ithaca Energy's ITH.L veteran Executive Chairman Gilad Myerson stepped down on Tuesday, as the company announced a new line-up of executives to lead the company after the closing of its purchase of Eni's ENI.MI UK assets.
The Guardian
- UK's Boohoo Group's BOOH.L bosses have waived their annual bonuses and scrapped plans to raise executive awards after talks with certain shareholders.
- UK's Labour Party's finance policy chief Rachel Reeves has said there will be no budget until September if Labour wins the election, and the party will not announce any additional tax measures beyond what it has already promised.
The Telegraph
- Royal Mail's parent company, International Distributions Services IDSI.L, is poised to accept a 3.5 billion pounds takeover offer from Czech billionaire Daniel Kretinsky.
- Energy firm Shell SHEL.L is preparing to axe staff in its offshore wind business, as chief executive Wael Sawan pursues a move away from renewables.
Sky News
- British supercar maker McLaren Group has bolstered its board with a trio of appointments including former Rolls-Royce RR.L boss Torsten Muller-Otvos.
- Revolution Bars RBG.L has rejected a proposed offer from rival Nightcap - describing its bid as "incapable of being delivered".
($1 = 0.7843 pounds)
(Compiled by Bengaluru newsroom)
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