PRESS DIGEST-British Business - Aug 7
Aug 7 (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
- Shareholders in the Spanish owner of TSB SABE.MC have approved the sale of the British lender in a move that raises questions over the future of the venerable high street brand. Sabadell’s investors voted in favour of the 2.65 billion pounds cash sale of TSB to Banco Santander SAN.MC , the owner of Santander UK
- Bain & Company has been awarded almost 24 million pounds of state contracts since the British government backed down on a ban on the consultancy over alleged state corruption in South Africa.
The Guardian
- Miner Glencore GLEN.L has decided to retain its stock market listing in London, rejecting calls for it to move to the US in a boost for the London Stock Exchange. The Swiss-headquartered company said that shifting its listing away to a rival bourse such as New York would not present value for its shareholders.
- British tax authorities have filed a winding-up petition against Liberty Steel’s business making pipes in northern England in the latest sign of the pressure on the metals empire controlled by tycoon Sanjeev Gupta.
The Telegraph
- British military aircraft are flying over Gaza to help Israel find missing hostages, even as the UK condemns Israel’s actions in the war-torn region. Intelligence gathered by RAF planes is “routinely” shared with the Israelis, who use the information to track captured hostages, the Ministry of Defence told The Telegraph
Sky News
- The London-listed parent of Primark was on Wednesday applying the finishing to a landmark transaction that will unite the Hovis and Kingsmill bread brands under common ownership. Sky News understands that a deal for Associated British Foods ABF.L to acquire Hovis from private equity firm Endless is likely to be announced by the weekend.
The Independent
- Britain's Keir Starmer has opened the door to increasing income tax this autumn as he faces growing pressure to fill a 50 billion-pound shortfall in public finances. Speaking to broadcasters, he said that the Budget would make “sure people feel better off”.
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