British Business - Nov. 28
Nov 28 (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
- Britain’s biggest wealth manager St James’s Place is abandoning commercial property as an asset class after deciding to wind down three funds with 1.84 billion pounds ($2.33 billion) invested in office blocks, shopping centres and other real estate.
- Scott O’Neil, the chief executive of Merlin Entertainments is to step down after just two years at the world’s second-biggest attractions group.
The Guardian
- Direct Line DLGD.L has rejected a 3.3 billion pound takeover offer from its bigger UK rival Aviva AV.L, the second time it has rebuffed a suitor this year.
- The owner of Stellantis' STLAM.MI Vauxhall told investors that it was “confident” it would meet the UK’s rules on electric vehicle sales just two months before it blamed them for the decision to close a factory in Luton.
The Telegraph
- The proposed sale of The Observer to a loss-making start-up Tortoise Media must be paused to protect Britain’s “fragile” liberal journalism, former Guardian editor Alan Rusbridger has said.
- German supplier of clutches Schaeffler SHA0.DE said it would cut 4,700 jobs across Europe and shutter the UK plant. The closure is expected to affect around 200 jobs, subject to consultation.
Sky News
- UK-based SatVu which uses thermal imaging to detect heat loss from buildings anywhere on Earth will announce this week that it has raised another 10 million pounds from prominent backers.
- Just Eat TKWY.AS has revealed plans to abandon its London stock market listing by the end of the year to allow it to cut costs and complexity.
($1 = 0.7892 pounds)
(Compiled by Bengaluru newsroom)
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