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PRESS DIGEST-British Business - February 11

ReutersFeb 11, 2025 2:31 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 UK government has extended subsidies worth up to 2 billion pounds ($2.47 billion) over four years to the Drax DRX.L biomass power station.

- Patrick Thomas, chairman of Johnson Matthey JMAT.L, will step down in July amid criticism from the company's largest investor over its strategy and performance.

The Guardian

- UK steelmakers warn that the new 25% U.S. tariffs on steel and aluminium imports would severely damage the industry and threaten jobs.

The Telegraph

- Shein has abandoned plans for a UK warehouse amid mounting regulatory pressures and scrutiny over its supply chain, casting doubt on its planned London listing.

- Direct Line DLGD.L shareholders will vote on Aviva's AV.L 3.6 billion pounds takeover offer on March 10, with the deal expected to complete by mid-year.

Sky News

- Unilever ULVR.L is nearing a 230 million pounds deal to acquire Wild, a premium refillable cosmetics brand, as part of its strategy to enhance its personal care portfolio.

($1 = 0.8097 pounds)

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