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PRESS DIGEST-British Business - Aug. 7

·1 min read

Aug 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

- Hammerson Plc has launched an emergency rights issue and proposed a discounted sale of its interest in a designer outlets business, as the shopping centre owner seeks to raise 800 million pounds ($1.05 billion) to reduce its 3 billion pounds debt pile. https://bit.ly/2DtKpGD

The Guardian

- Foreign exchange firm Travelex has collapsed into administration, with the immediate loss of more than 1,300 jobs and advisory firm PwC has been appointed to carry out a complex restructuring deal and pre-pack administration. https://bit.ly/3kh9VQ6

The Telegraph

- Guinness and Johnnie Walker owner Diageo Plc said it has launched arbitration proceedings against LVMH over its refusal to go ahead with the 181 million euro ($214.97 million) payout. https://bit.ly/2DshiUf

Sky News

- J D Wetherspoon Plc plans to shed up to 130 jobs at its head office as the pub chain looks to reduce its workforce due to the industry-wide downturn in trade and the scaling back of its own expansion plans. https://bit.ly/31u74L0

($1 = 0.8420 euros) ($1 = 0.7614 pounds)

(Compiled by Bengaluru newsroom)