British Business - Oct. 22
Oct 21 (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 engineering company Ricardo RCDO.L said it is divesting its defence business as part of a five-year strategic shift to become an "engineering consultancy in environmental and energy transition".
- The US private equity firm Clayton Dubilier & Rice is in exclusive talks to acquire a controlling stake in Sanofi's SASY.PA consumer healthcare business, valuing the unit at about 16 billion euros ($17.30 billion).
The Guardian
- Britain is to lend Ukraine an additional 2.26 billion pounds ($2.94 billion) and allow Kyiv to spend the money on weapons as part of a wider $50 billion loan programme expected to be confirmed by G7 members later this week.
- The motor finance division of Volkswagen VOWG_p.DE has been fined 5.4 million pounds ($7.02 million) by the Financial Conduct Authority (FCA) for unfairly treating financially-stretched customers between 2017 and 2023.
The Telegraph
- French media giant Canal+ is seeking a valuation of up to 8 billion euro ($8.65 billion) when it lists on the London Stock Exchange, which is expected to appear on the LSE in mid-December.
- UK's Deputy Prime Minister Angela Rayner's sweeping overhaul of workers' rights could cost employers almost 5 billion pounds ($6.50 billion) a year, according to an impact assessment published by the Government on Monday.
Sky News
- Grocery technology company Ocado Group OCDO.L has lined up former Microsoft executive Adam Warby as its next chairman, replacing Rick Haythornthwaite.
The Independent
- The Lords European Affairs Committee has written to Technology Secretary Peter Kyle to encourage him to begin early talks with the European Commission on renewing the data adequacy agreement, which is due to expire in June 2025.
($1 = 0.7697 pounds)
($1 = 0.9246 euros)
(Compiled by Bengaluru newsroom)
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