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PRESS DIGEST-British Business - Sept 9
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PRESS DIGEST-British Business - Sept 9
Sep 8, 2024 5:12 PM

Sept 9 (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

- Housebuilder Bellway pulled out of its 720 million

pound ($945.58 million) takeover of Crest Nicholson over

concerns about its smaller rival's ballooning bill to fix

dangerous cladding after the Grenfell Tower tragedy.

- UK's Ofwat is facing an unprecedented revolt among water

companies with a record number of privatised regional monopolies

said to be considering taking the regulator to the competition

authorities.

The Guardian

- Royal Mail is considering launching a "bin

collection" type website for households to track which day they

will receive mail. The company is also pushing to cut its

services to save costs, and has proposed a reduction in

second-class letter deliveries to alternate weekdays.

The Telegraph

- TalkTalk is facing a fresh financial squeeze after an

eleventh-hour rescue deal by its founder imposed punishing new

debt costs on the struggling broadband provider.

- New York-based Elliott Management is among a pack of

aggressive US players to have hoovered up Thames Water debt at

steep discounts in an attempt to capitalise on the financial

uncertainty engulfing Britain's largest water supplier.

Sky News

- The remaining bidders for The Daily Telegraph have been

given a deadline for revised bids for the right-leaning

newspaper as its stablemate, The Spectator magazine, clinches a

100 million pound sale to the hedge fund tycoon Paul Marshall.

($1 = 0.7614 pounds)

(Compiled by Bengaluru newsroom)

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