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PRESS DIGEST-British Business - July 27

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July 27 (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

- Kwasi Kwarteng, the business secretary, is taking an 'active interest' in the national security implications of a 2.6 billion pounds ($3.59 billion) takeover offer for Ultra Electronics Holdings Plc, the UK defence company, by U.S. private equity, it has emerged. https://bit.ly/3zGkvqW

- Tesla Inc said it had worked 'extremely hard to keep production running as close to full capacity as possible' and reiterated that it expected to grow vehicle deliveries by more than 50% this year. However, Elon Musk, chief executive, warned that semiconductor chip supplies would be 'the governing factor' on its output. https://bit.ly/2UV7URE

The Guardian

- Tesco Bank has announced that it is closing all of its customers’ current accounts from the end of November, and that it will write to them in the next fortnight to advise them what they need to do. https://bit.ly/3zS9nHB

- Nissan Motor Co Ltd has announced plans to create 400 jobs at its car plant in Sunderland, weeks after promising to invest 1 billion pounds in the site. The carmaker said it was looking for staff to build a new electric vehicle as well as models including the Juke, Qashqai and the electric Leaf. https://bit.ly/3zS9enx

The Telegraph

- Whitehall sources admitted last night that the 23 billion pounds Hinkley Point C project underway in Somerset could be jeopardised by plans to block China General Nuclear (CGN) from future UK projects. https://bit.ly/2UV7aMm

- The British microchip company Arm is falling behind rivals and struggling to gain a foothold in crucial new markets, according to evidence gathered by Nvidia Corp as the U.S. tech titan seeks secure to support for a $40 billion takeover. https://bit.ly/3iORCSy

Sky News

- Selfridges has been put up for sale in a move that could net its Canadian billionaire owners as much as 4 billion pounds. The department store chain reportedly attracted bid interest last month, prompting the Weston family to order a formal auction process. https://bit.ly/3iNQGhb

- Ryanair Holdings Plc has raised its passenger forecast following a recovery in summer bookings but reported a sharper first quarter loss, saying the coronavirus crisis "wreaked havoc" on Easter demand. The airline said it now expected to fly between 90 million and 100 million people in its current financial year to the end of March 2022. https://bit.ly/3y9oJXs ($1 = 0.7235 pounds) (Compiled by Bengaluru newsroom)