PRESS DIGEST- British Business – Jan. 13


Jan 13 (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

– French utility company Electricite De France SA has hired Rothschild as financial adviser for securing a funding deal for its proposed nuclear power station in Suffolk.

– Boeing Co is facing a bill of more than $8 billion in compensation for airlines whose 737 Max aircraft are grounded or undelivered, with the bill rising by $1 billion every month, according to a paper prepared for the aviation industry by veteran aviation economist Chris Tarry.

The Guardian

– The Gambling Commission of UK is expected to announce a long-awaited ban on credit card wagers, with the rules due to be unveiled as soon as Tuesday.

– French junior minister for digital affairs Cédric O said France will go ahead with its drive to make companies including Inc and Apple Inc pay more and fairer tax, despite U.S. warnings that it could open up a new front in the international trade war.

– Lloyds Banking Group has warned its 60,000 staff including the chief executive officer, António Horta-Osório, to expect their first bonus cut in four years after a number of problems at the bank, including a last-ditch surge in payment protection insurance (PPI) claims.

The Telegraph

– Katie Bickerstaffe will quit her role chairing SSE Energy Services when the company’s sale to Ovo Energy Ltd completes, which is likely to happen this month.

– Gatwick Airport’s second largest shareholder Global Infrastructure Partners has transferred its 21% stake in Gatwick into a so-called continuation vehicle.

– Britain’s Financial Conduct Authority has launched an industry-wide probe into the firms charged with supervising investment funds in the wake of the scandal over the collapse of stock picker Neil Woodford’s investment empire.

Sky News

– European airline Flybe Group Ltd is trying to secure additional financing amid mounting losses.

– Debenhams Plc in advanced talks with Aviva Plc about buyout a of its executive pension scheme.

Compiled by Bengaluru newsroom

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