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PRESS DIGEST-British Business - Jan 28

ReutersJan 28, 2025 4:29 AM

- 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 takeover of Harland & Wolff by the Spanish state-owned shipbuilder Navantia has been completed in a deal expected to secure more than 1,000 British jobs.

- More than $700 billion was wiped from the value of the world's largest technology companies after the emergence of a cut-price Chinese rival to ChatGPT raised doubts over whether America can sustain its lead in artificial intelligence.

The Guardian

- Elon Musk's Tesla TSLA.O has filed a complaint against the European Commission after the imposition of tariffs by the bloc on its Chinese-made electric vehicles.

- Amazon AMZN.O is seeking permission to launch drones from its warehouse in Darlington, County Durham, in the latest step towards using the devices to deliver packages to homes.

The Telegraph

- HMV's billionaire owner, Doug Putman is considering a bid for WH Smith's SMWH.L high street business as the retailer focuses on travel.

- Labour donor Dale Vince is in line for a 25-million-pound ($31.09 million) windfall after British green energy supplier, Good Energy GOODG.L was snapped up by Dubai-based Esyasof.

Sky News

- One of Britain's biggest luxury boat manufacturer, Fairline Yachts has collapsed into administration less than two months after it was sold to new investors.

- Robotics firm BOW spun out of the University of Sheffield will on Tuesday announce a 4-million-pound seed round led by Northern Gritstone.

The Independent

- British Energy Secretary Ed Miliband has said any expansion of Heathrow Airport or other aviation projects must fall within the UK's carbon budget as he leads the push for net zero.

- British Prime Minister Keir Starmer and Chancellor Rachel Reeves are loosening the rules around how pension funds invest, allowing them to plough surplus funds into the wider economy.

($1 = 0.8041 pounds)

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