British Business - July 11
July 11 (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
- The Daily Mail owner DMGT has withdrawn from the auction for the Telegraph newspapers amid fears that it would be drawn into a long and complex competition inquiry.
- British homebuilder Crest Nicholson CRST.L said it may recommend to its shareholders a sweetened 720 million pound ($925.42 million)all-share takeover deal from bigger rival Bellway BWY.L if the latter comes up with a firm offer.
The Guardian
- Britain's biggest housebuilder, Barratt Developments BDEV.L, expects completed homes to drop by up to 7% to between 13,000 and 13,500 this year, down from 14,004 in the year to 30 June, citing "another year of economic and political uncertainty".
- Newcastle United football club co-owner Amanda Staveley is to sever ties with Newcastle, almost three years after becoming the public face of the club's Saudi Arabian-controlled takeover.
The Telegraph
- British tycoon Mike Jatania is closing in on a deal for The Body Shop, his investment firm Aurea Holdings is working on the acquisition alongside Charles Denton, former Molton Brown chief executive.
- South East Water, utility company, which supplies 2.3 million customers in Kent and the surrounding counties said it must raise cash from investors to stay afloat, as bosses await a crunch spending decision from Ofwat, the water watchdog .
Sky News
- The new environment secretary Steve Reed has summoned the bosses of most of Britain's water companies, including Thames Water, Yorkshire Water and Severn Trent for urgent talks amid signs that Labour will take a tougher approach to regulating the industry.
- UK Prime Minister Keir Starmer says "special relationship with the US is so important and stronger than ever" as he meets Joe Biden in White House.
($1 = 0.7780 pounds)
(Compiled by Bengaluru newsroom)
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