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PRESS DIGEST-British Business - Oct. 2
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PRESS DIGEST-British Business - Oct. 2
Oct 2, 2024 10:42 PM

Oct 2 (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

- British luxury brand Mulberry, rejected retailer

Frasers' ( SDIPF ), 83 million pounds ($110.32 million) takeover

proposal saying its majority shareholder did not support the bid

and that it undervalued the company.

- The Transparency Task Force (TTF) has written to Ashley

Alder, the Financial Conduct Authority chairman, and Nikhil

Rathi, the regulator's chief executive, accusing FCA officials

of misleading the audience over the investor protection regime.

Remarks made at the meeting were "factually inaccurate", it

said.

The Guardian

- British garden centre chain Dobbies is planning to shut 17

of its 77 stores, affecting 465 jobs, as its new owners try to

return the garden centre group to profitability.

- The former chair of the Post Office Henry Staunton has

warned of another Horizon-style scandal if so-called

"untouchable" investigators and executives involved in the

prosecution of sub-postmasters are not fired before the

organisation rolls out its new IT system.

The Telegraph

- Gary Lubner, a South African businessman will receive 125

million pounds as repair company Autoglass' debt rating is

slashed to 'junk' status. Autoglass owner Belron will reward

Gary Lubner and four private equity shareholders a total of 4.3

billion euros ($4.76 billion) in a one-off dividend funded by

billions of euros in new debt.

Sky News

- British holiday group Saga is in talks with

Belgium-based insurer Ageas regarding a long-term

partnership arrangement for its insurance division.

- Michael Ancram, an aristocrat who became a Tory MP, senior

government minister, party chairman, deputy leader and grandee,

has died aged 79.

($1 = 0.7523 pounds)

($1 = 0.9033 euros)

(Compiled by Bengaluru newsroom)

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