British Business - Oct 30
Oct 30 (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 chip producer IQE IQE.L announced that Chief Executive Americo Lemos has left the company with immediate effect and finance chief Jutta Meier will become interim chief executive.
- Rolls-Royce RR.L has sold a 20% stake in its Rolls-Royce SMR business to the Czech power company CEZ CEZP.PR.
The Guardian
- Santander SAN.MC CEO Hector Grisi said that the bank will cut more than 1,400 jobs across its UK business this year as part of its efforts to reduce costs.
- HSBC HSBA.L CEO Georges Elhedery has said moves to separate its eastern and western operations are not part of a plan to break up the banking group.
The Telegraph
- British finance minister, Rachel Reeves, will hand the country's armed forces a funding boost of almost 3 billion pounds ($3.90 billion)in the October 30 budget.
- Li Ka-shing's CK Hutchison 0001.HK is exploring plans to invest in Thames Water, as the troubled supplier seeks to raise billions of pounds to survive.
Sky News
- More than 1,000 Ford F.N administrative workers in Dunton, Stratford, Dagenham, Daventry and Halewood will stage a 24 hour walkout on Oct. 30, over a long-running dispute about pay and contract changes, the Unite union said on Tuesday.
- Adidas ADSGn.DE has reached an out-of-court settlement with rapper Ye to end all legal proceedings between them, the sportswear brand said, adding that no money changed hands in the agreement.
Independent
- Manchester United has expressed interest in appointing Sporting's Ruben Amorim as new manager to replace Erik ten Hag and are prepared to pay the 10 million euros ($10.82 million) release clause, the Portuguese club said.
($1 = 0.7686 pounds)
($1 = 0.9243 euros)
(Compiled by Bengaluru newsroom)
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