PRESS DIGEST-British Business - Feb. 8
Feb 8 (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
- Barratt Developments has agreed a 2.5 billion pounds ($3.16 billion) takeover of Redrow in a deal that will cement its position as the Britain's biggest housebuilder.
- Sainsbury's plans to cut a further 1 billion pounds ($1.26 billion) in costs over the next three years and will launch a 200 million pounds share buyback scheme as it seeks to offer more choice and consistent value for shoppers.
- Deloitte is planning to cut about 100 jobs because of the slowdown in corporate dealmaking.
The Guardian
- Thames Water has been ordered to update its service commitment plan by the regulator Ofwat after a minister said the company's performance in regards to sewage dumping and serving customers was "completely unacceptable".
The Telegraph
- Liverpool-based parcel courier Yodel is preparing to call in administrators as hopes of a rescue deal fade, threatening disruption to online shopping.
Sky News
- Labour will spend 28 billion pounds ($35.35 billion) a year on green plans in the next parliament if they enter government, according to Labour leader Keir Starmer.
($1 = 0.7921 pounds) (Compiled by Bengaluru newsroom)
