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PRESS DIGEST-British Business - Feb 4

·2 min read

Feb 4 (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

Business leaders and policymakers must avoid repeating the mistakes of the financial crisis as they steer the country's economic recovery, the Confederation of British Industry's new director-general, Tony Danker has warned. https://bit.ly/3oQgcTL

Asda could face a 100 million pounds ($136.47 million) annual rent bill after its new owners, Issa brothers, revealed they plan to help finance their 6.8 billion pounds ($9.28 billion) takeover via a sale and leaseback of some assets and carving out the supermarket's forecourt business. https://bit.ly/2YEELIW

The Guardian

The accounting giant KPMG has paid its 582 UK partners an average of 572,000 pounds ($780,608.40) each in the middle of the COVID-19 crisis. https://bit.ly/3axPLNz

An Australia-style closure of borders would not help the UK combat the COVID-19 crisis, the UK transport secretary, Grant Shapps, indicated, as the government continued to come under pressure to implement tougher travel restrictions. https://bit.ly/3cCTADQ

The Telegraph

Eurostar "is not our company to rescue", the British government has said, insisting France must take responsibility for the bailout of the struggling Channel Tunnel operator. https://bit.ly/2Mnwern

The bosses of a medical cannabis company, GW Pharmaceuticals, are set for a $130 million payday after it was sold for more than $7 billion to Irish company Jazz Pharmaceuticals. https://bit.ly/3tm74dc

Sky News

UK PM Boris Johnson has vowed to "do everything we need to do" - including an attempt to override post-Brexit arrangements with the EU - in order to "ensure there is no barrier down the Irish Sea". https://bit.ly/36EzQMt

David Beckham backed Cellular Goods, which makes skincare and athletic recovery products manufactured from biosynthetic cannabinoids, will announce its intention to float as soon as Thursday morning, becoming the first company of its kind to formally unveil plans for a main London stock market debut. https://bit.ly/3rgwTcT

($1 = 0.7328 pounds) (Compiled by Bengaluru newsroom)