British Business - Aug 2
Aug 2 (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
- Alex Beard, the former head of oil at Glencore GLEN.L, is among five former executives at the company to be charged by the Serious Fraud Office with conspiring to make corrupt payments to benefit its west African oil operations.
- Guild Esports GILDG.L, the gaming group backed by David Beckham, is battling for survival less than four years after joining the London stock market.
The Guardian
- Czech billionaire Daniel Křetínský's takeover bid for Royal Mail IDSI.L has been called in by the UK government for closer scrutiny of any national security risks including potential links to Russia.
- The Bank of England cut interest rates for the first time in four and a half years, easing pressure on households after it raised borrowing costs to the highest level since the 2008 financial crisis in response to soaring inflation.
The Telegraph
- British Airways owner International Airlines Group (IAG)ICAG.L terminated its proposed takeover of Spain's Air Europa, citing regulatory environment concerns, less than two months after it offered remedies to antitrust regulators to secure approval for the deal.
- The budget airline Wizz Air WIZZ.L is planning to limit its growth in Britain after weakening demand for flights sent its share price plunging almost 17%.
Sky News
- Yodel, the parcel delivery group taken to the brink of collapse earlier this year, will this week announce an 85 million pound ($108.13 million) funding package designed to allay concerns about its future.
- Paul Marshall, the hedge fund tycoon and GB News shareholder, is closing in on a deal to buy The Spectator, one of Britain's most influential political media titles.
($1 = 0.7861 pounds)
(Compiled by Bengaluru newsroom)
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