PRESS DIGEST- British Business - July 1
July 1 (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
Jaguar Land Rover is expected to reveal this week that it will build an all-electric version of its XJ luxury saloon at its Castle Bromwich factory in Birmingham. http://bit.ly/2KO1fCo
Advertising giant WPP Plc is selling its stake in the sports marketing agency Chime to help cut its hefty debt pile. WPP is expected to offload the 25% holding for 50 million pounds to the American buyout firm Providence Equity Partners, which already owns 75%. http://bit.ly/2KQPgE7
The Guardian
Network Rail has made a bid for parts of British Steel ahead of an initial deadline for offers for the company, which collapsed into liquidation in May putting 4,500 jobs at risk. http://bit.ly/2KQNkeP
Corporate borrowing poses a danger to the global financial system and could trigger a crisis in the same way US sub-prime mortgages sparked the 2008 banking crash, the organisation that represents the world's central banks has warned. http://bit.ly/2KLvyJK
The Telegraph
British trucks will not be able to board ships in Dover in a "no deal" Brexit if they do not have the correct customs paperwork, following a deal between the Port of Calais and Channel shipping lines, the head of the Road Haulage Association has told the Telegraph. http://bit.ly/2KQo4Fw
HSBC Holdings Plc has started testing a new artificial intelligence system that aims to spot odd behaviour quicker in order to tackle the more "sophisticated end" of criminal activity. http://bit.ly/2KNmYu7
Sky News
The Dubai-based owner of P&O, DP World Plc, is to swoop on Topaz Energy and Marine, a provider of offshore support vessels, in a $1.3 billion takeover that will end the latter's deliberations about a London float. http://bit.ly/2KLXbm1
The trustees of the 10.5 billion pound ($13.33 billion) British Steel Pension Scheme are in secret talks to offload it two years after it was handed 550 million pounds to secure a rescue of the UK's biggest steel producer. http://bit.ly/2KNz8Dd ($1 = 0.7879 pounds) (Compiled by Bengaluru newsroom; Editing by Daniel Wallis)
