British Business - Oct 25
Oct 25 (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
- Retail tycoon Mike Ashley has launched an attempt to become the Chief Executive of Boohoo BOOH.L, as he pushes for a possible merger between the troubled fast-fashion retailer and its rival Asos ASOS.L.
- Thames Water is approaching an agreement with a group of creditors over a financing package of up to 3 billion pounds ($3.89 billion) as the embattled water supplier attempts to restructure its debt.
The Guardian
- U.S. chipmaker Intel has won a long-running battle to quash a fine of more than 1 billion euros ($1.08 billion) imposed by the European Commission for allegedly abusing its market dominance in the sale of computer chips.
- UK Chancellor Rachel Reeves is expected to announce extra government support in her budget next week, including state-backed loans through the UK export finance mechanism for firms importing critical minerals like lithium, graphite, and cobalt.
The Telegraph
- Bank of England Governor Andrew Bailey has warned the UK government against forcing pension funds to invest in British assets, stating he would not "for a moment" support the idea of forcibly making pension funds back British companies.
- British department store retailer John Lewis will teach customers how to cook at its shops under a new deal with chef Jamie Oliver, as it steps up plans to reinvigorate its department stores.
Sky News
- UK Chancellor Rachel Reeves will rewrite the government's fiscal rules in next week's budget to allow her to increase borrowing for public investment by around 50 billion pounds ($64.84 billion).
- Britain will ban the sale and supply of single-use vapes starting on 1 June next year, with legislation to introduce the ban already laid out in parliament.
The Independent
- Tesco TSCO.L, Sainsbury's SBRY.L, and fast-food chains KFC and McDonald's MCD.N could be in danger of accidentally breaching new forest-protection laws after climate campaigners discovered a major UK chicken supplier is linked to a business accused of deforestation in Brazil.
($1 = 0.7711 pounds)
($1 = 0.9237 euros)
(Compiled by Bengaluru newsroom)
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