PRESS DIGEST-British Business - August 20
Aug 20 (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
- The UK government has approved the sale of a British chipmaker, Plessey Semiconductors to a London fund called Haylo Labs, in a deal financed by a $100 million loan from Goertek 002241.SZ, a Chinese tech giant.
- Fast fashion retailer Shein is reported to be considering moving its headquarters back to China as part of a bid to convince Beijing to approve plans for a Hong Kong listing, after failing to list in New York or London.
The Guardian
- The UK government has dropped its insistence that Apple AAPL.O allows law enforcement officials "backdoor" access to US customer data, Donald Trump's spy chief, Tulsi Gabbard, says.
- German retailer Lidl is close to overtaking Morrisons to become the UK's fifth-biggest supermarket chain after a sales rise as shoppers attempted to offset higher household bills with cheap groceries.
The Telegraph
- Middle-class families in UK rural areas face paying an extra 376 pounds ($506.70) in council tax under Angela Rayner's plans to unlock more cash for deprived areas.
- Migrant hotels across the UK are at risk of closure after a High Court ruling threw the Government's asylum plans into turmoil. Council leaders won a temporary injunction to close the Bell Hotel in Epping, Essex, on Tuesday after it became a focus for anti-immigration protests.
Sky News
- Energy bills are now expected to rise in autumn, a reversal from the previously anticipated price drop, a prominent forecaster has said. Households will be charged 17 pounds more for a typical annual bill from October as the energy price cap is due to rise
The Independent
- Mining company Glencore GLEN.L, chief executive Gary Nagle said, "London is where we are happy". He added that Glencore, "don't believe there is a value-accretive proposition to move exchanges right now" as he plans to has reversed a potential departure for the US, in a huge boost to domestic stock markets.
($1 = 0.7421 pounds)
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