PRESS DIGEST-British Business - August 25
Aug 25 (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
- Start-up Gemini Trains plans to launch cross-Channel rail services by 2029 under Uber's UBER.N Trains brand, using Stratford International and Ebbsfleet stations to rival Eurostar and offer integrated travel via the Uber app.
- UK chipmaker Paragraf narrowly avoided collapse after a six-month national security review delayed a $55 million funding round led by UAE's Mubadala, spotlighting industry frustration with the opaque and slow National Security and Investment Act (NSIA) approval process.
The Guardian
- Coca-Cola KO.N is exploring a potential 2 billion-pound ($2.70 billion) sale of Costa Coffee - nearly half its 2018 purchase price - amid rising costs and competitive pressures, with early bids expected this autumn.
The Telegraph
- Daily Mail's owner DMG Media has called for a crackdown on Google's GOOGL.O AI after warning that early tests of the technology in search were causing web traffic to crater.
- Labour is clashing with Elon Musk's X over a proposed UK government-backed extremism early-warning system, which X claims threatens free speech and duplicates existing laws, but officials argue is a voluntary, proactive measure to prevent radicalisation.
Sky News
- Alcentra and Brait BATJ.J, the owners of British fashion retailer New Look, have picked bankers to oversee a strategic review, which is expected to see the company change hands next year.
($1 = 0.7405 pounds)
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