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PRESS DIGEST-British Business - Dec 12
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PRESS DIGEST-British Business - Dec 12
Dec 11, 2024 8:47 PM

Dec 12 (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

- Clive Cowdery, the serial life insurance entrepreneur and

philanthropist, has agreed to sell Resolution Life to Nippon

Life of Japan in a deal that values the business at $10.6

billion.

- Tax inspectors and customs officials in Germany have

raided the headquarters of Adidas and a number of

other offices in connection with a long-running investigation

over customs and import regulations.

The Guardian

- The UK supreme court has granted permission for two car

lenders, Close Brothers and the MotoNovo owner FirstRand, to

appeal against a landmark ruling on motor finance commission

payments that has left firms fearing a potential 30 billion

pound ($38.29 billion) compensation bill.

- Harrods has introduced a £1 a diner "cover charge" in all

its restaurants and cafes in London which staff say aims to bump

up profits by up to 1 million pounds after a government

crackdown on companies taking a cut of tips.

The Telegraph

- Katharine Vine, the editor of The Guardian, is facing the

threat of a no-confidence vote as anger mounts over the sale of

The Observer.

- British supercar maker McLaren has been sold to an Abu

Dhabi sovereign wealth fund, in a deal presided over by the

Emirate's crown prince.

Sky News

- Small British businesses have stopped selling to Northern

Ireland as well as Europe due to extra administrative hurdles

posed by new EU customs rules coming into effect.

- Britain's biggest high-street banks HSBC ( HSBC ) and

Lloyds Banking Group ( LYG ) have quit Lending Standards Board,

a body dedicated to enhancing industry lending practices,

sparking a furious row and casting doubt over its future.

($1 = 0.7835 pounds)

(Compiled by Bengaluru newsroom)

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