British Business - Oct 16
Oct 16 (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
- Walgreens Boots Alliance WBA.O, which operates more than 8,700 stores in the US and 2,000 Boots pharmacies in the UK, said on Tuesday it would shut 1,200 stores in the U.S. over the next three years.
- British finance minister Rachel Reeves is drawing up plans for up to 40 billion pounds ($52.28 billion) worth of tax rises and spending cuts to avoid a return to austerity.
The Guardian
- British Broadcaster BBC has announced its latest round of job cuts, involving a net reduction of 130 roles across news and current affairs departments, as part of a wider cost-cutting drive.
- Britain on Tuesday sanctioned Israeli settler organisations that it said had sponsored violence against Palestinian communities in the West Bank, and called on Israel to "stop settler expansion on Palestinian land".
The Telegraph
- Yellowwoods, the private investment vehicle of South Africa's Enthoven family, has lined up to fund the takeover of The Observer newspaper by former BBC News director James Harding.
- The Russian General Prosecutor's office was seeking to collect more than 1 billion euro ($1.09 billion) in damages from international energy major Shell SHEL.L.
Sky News
- Cinven, EQT EQTAB.ST and New Mountain Capital have been shortlisted to buy a stake in the UK operations of Grant Thornton in a process that could value the UK firm at more than 1.5 billion pounds.
- British water regulator Ofwat appointed L.E.K. Consulting to act as an independent monitor to Thames Water on Tuesday, as the heavily indebted utility seeks to raise equity and avert the threat of re-nationalisation.
($1 = 0.7652 pounds)
($1 = 0.9183 euros)
(Compiled by Bengaluru newsroom)
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