Financial Times - Oct 24
Oct 24 (Reuters) -The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.
Headlines
- Addison Lee to be bought by Singapore-listed group in 269 mln pounds deal
- UK ministers explore using break clauses in asylum housing contracts
- Arm cancels Qualcomm’s chip design licence amid legal dispute
- UK competition regulator to probe investment barriers
- Intesa Sanpaolo unveils plans to cut 9000 jobs
Overview
- Addison Lee, the UK-based private-hire taxi and courier company, has agreed to be bought by Singapore-listed transport conglomerate ComfortDelGro CMDG.SI in a deal valuing the business at 269.1 million pounds ($347.68 million).
- Britain ministers are keen to renegotiate terms or end the contracts for asylum accommodation with outsourcers including Serco SRP.L and Mears MERG.L as private companies made huge profits.
- SoftBank 9984.T owned Arm O9Ty.F has told US chipmaker Qualcomm QCOM.O it will cancel its chip design licence, raising the stakes in an intellectual property dispute set to go to trial in December.
- The Competition and Markets Authority, Britain's competition watchdog, has launched a study into barriers to investment in the UK, including how competition affects the attractiveness of the UK as an investment destination.
- Intesa Sanpaolo ISP.MI, Italy's largest bank, announced plans on Wednesday to axe almost 10 per cent of its workforce as it aims to reduce costs and accelerate its digital transformation.
($1 = 0.7740 pounds)
(Compiled by Bengaluru newsroom)
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