PRESS DIGEST-British Business - August 11
Aug 11 (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
- Rolls Royce RR.L has transferred its 4.3 billion pound ($5.79 billion) British pension obligations to Pension Insurance Corporation (PIC), a specialist insurer of defined benefit pension schemes.
- NatWest NWG.L continued receiving investor funds on behalf of an alleged 200 million pound ($268.8 million) Ponzi scheme after police announced they were investigating a suspected fraud at the business.
The Guardian
- Elon Musk's Tesla TSLA.O is gearing up to launch a household electricity supplier in Britain in the coming months.
- TikTok workers in Germany are holding strikes over mass layoffs of the company's trust and safety team.
The Telegraph
- One of the billionaire brothers behind EG Group has urged the petrol station behemoth to sell off its $5 billion U.S. business in an apparent split with the company's private equity backer.
- BP BP.L is to reopen a key North Sea field and pump new oil and gas for at least a decade, despite Ed Miliband's attempts to cut back the offshore industry.
Sky News
- London's well-known live entertainment venue O2 has been sold to Britain's biggest pensions insurance specialist Rothesay, in a 999-year lease for about 90 million pounds.
($1 = 0.7432 pounds)
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