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PRESS DIGEST-British Business - May 2

ReutersMay 2, 2025 2:28 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

- Fast fashion retailer Shein has cut ties with two UK corporate communications companies brought in to support its London stock market flotation as the fast-fashion giant quietly puts its preparations on hold amid pressure from President Trump's tariff war.

- London department store Harrods said hackers had attempted to break into its systems, the third high-profile cyber attack on a UK retailer in two weeks.

The Guardian

- Almost all new homes in England will be fitted with solar panels during construction within two years, the government will announce after British Prime Minister Keir Starmer rejected Tony Blair's criticism of net zero policies.

- The owner of British power company Drax DRX.L has abandoned its annual shareholder meeting after a confrontation with activists who staged a protest against burning trees to generate electricity.

The Telegraph

- Brussels will put a time limit on any post-Brexit deal with the UK to cut red tape on food and drink exports unless Keir Starmer caves to its demands for long-term access to British fishing waters.

- Zoë Yujnovich, who will take up the role of Britain's National Grid chief executive in November has raised concerns about the pace of net zero and said that oil will be needed for decades.

Sky News

- British gas owner Centrica's CNA.L investors should vote against the energy company's remuneration report at its annual general meeting next week, proxy adviser Institutional Shareholder Services said, citing concerns over CEO Chris O'Shea's pay rise.

- Britain's M&S MKS.L has pulled all online job adverts from its website as it seeks to resolve problems on its platforms amid an ongoing cyberattack.

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