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PRESS DIGEST-British Business - Oct 7
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PRESS DIGEST-British Business - Oct 7
Oct 6, 2024 8:36 PM

Oct 7 (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

- The owner of the American conservative newspaper The New

York Sun Dovid Efune is closing in on a deal to buy the

Telegraph for more than 550 million pounds ($721.99 million).

- An alliance of dozens of the biggest pension funds in

Britain with assets of 350 billion pounds has renewed its attack

on the London Stock Exchange ( LDNXF ), warning that it should

not be pushing to weaken boardroom standards in listed companies

any further.

The Guardian

- More than 70 retailers, including Tesco ( TSCDF ), Marks &

Spencer ( MAKSF ) and Ikea, are lobbying the chancellor, Rachel

Reeves, for a 20% cut to business rates, warning that the

property tax could force tens of thousands of shops to shut.

The Telegraph

- The British digger maker JCB, owned by the billionaire

Bamford family, has axed around 230 workers amid a global slump

in manufacturing.

Sky News

- Sue Gray has resigned from her position as Keir Starmer's

chief of staff, and will be replaced by the party's former

campaign director who masterminded July's election landslide

Morgan McSweeney.

($1 = 0.7618 pounds)

(Compiled by Bengaluru newsroom)

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