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PRESS DIGEST-British Business - Feb 7

ReutersFeb 7, 2025 3:39 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

- UK engineering group IMI IMI.L has been hit by a cyber attack weeks after its rival Smiths Group SMIN.L said that it had been subjected to a similar attack.

- British retailer Marks & Spencer MKS.L said on Thursday that Richard Price, the boss of its clothing division and a key player in the group's recent revival, is leaving to pursue a portfolio career.

The Guardian

- Rachel Reeves's plans for growth suffered after the Bank of England halved its forecast for the year and warned households would face mounting pressure from rising prices.

- Antonio Costa, president of the European Council, said that the EU will not let the question of fishing rights derail a pact with the UK on security and defence.

The Telegraph

- U.S. President Donald Trump has signed an executive order, sanctioning International Criminal Court (ICC) officials, which is expected to extend to British lawyer Karim Khan, its chief prosecutor.

- British Prime Minister Keir Starmer indicated he would not stand in the way of the Rosebank oil and gas field, after a court blocked it, sending the decision to the government which had pledged not to issue any new licences.

Sky News

- HSBC HSBA.L is in discussions to grant CEO Georges Elhedery a pay package of up to 15 million pounds ($18.65 million), nearly six months after his appointment and the launch of a major cost-cutting initiative at the bank.

- Abby Thomas, the chief executive and chief ombudsman of Britain's Financial Ombudsman Service (FOS), is stepping down after just over two years in the role, the complaints-handling body said on Thursday.

($1 = 0.8044 pounds)

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