British Business - Sept 9
Sept 9 (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
- Housebuilder Bellway BWY.L pulled out of its 720 million pound ($945.58 million) takeover of Crest Nicholson over concerns about its smaller rival's ballooning bill to fix dangerous cladding after the Grenfell Tower tragedy.
- UK's Ofwat is facing an unprecedented revolt among water companies with a record number of privatised regional monopolies said to be considering taking the regulator to the competition authorities.
The Guardian
- Royal Mail IDSI.L is considering launching a "bin collection" type website for households to track which day they will receive mail. The company is also pushing to cut its services to save costs, and has proposed a reduction in second-class letter deliveries to alternate weekdays.
The Telegraph
- TalkTalk is facing a fresh financial squeeze after an eleventh-hour rescue deal by its founder imposed punishing new debt costs on the struggling broadband provider.
- New York-based Elliott Management is among a pack of aggressive US players to have hoovered up Thames Water debt at steep discounts in an attempt to capitalise on the financial uncertainty engulfing Britain's largest water supplier.
Sky News
- The remaining bidders for The Daily Telegraph have been given a deadline for revised bids for the right-leaning newspaper as its stablemate, The Spectator magazine, clinches a 100 million pound sale to the hedge fund tycoon Paul Marshall.
($1 = 0.7614 pounds)
(Compiled by Bengaluru newsroom)
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