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PRESS DIGEST-British Business - June 23

·2 min read

June 23 (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

- Frasers Group said on Wednesday it has increased its maximum exposure to Hugo Boss to 900 million euros ($950.49 million) and reiterated its support for the German fashion brand's strategy and management team. https://bit.ly/3tTt156

- The British government is extending a trading plan to help sell down the taxpayer's 11.3 billion pound ($13.84 billion)stake in NatWest Group by another 12 months, as chills in the global economy continue to weigh on the share prices of Britain's biggest banks. https://bit.ly/3NdQc10

The Guardian

- Harrods on Wednesday said it has delayed its summer discount sale by two to three weeks because of global supply chain hold-ups. https://bit.ly/3ymNkuJ

- Stuart Rose, chairman of Asda on Wednesday said shoppers at the supermarket are setting themselves 30 pound limits at checkouts and petrol pumps, as consumers tighten their belts because of the cost of living crisis. https://bit.ly/3zXdVzl

The Telegraph

- Major crypto firm Tether said on Wednesday it will launch next month a "stablecoin" pegged to the British pound, a move that comes as London draws up plans to regulate the fast-growing type of digital currency. https://bit.ly/3yeCTJe

- Britain's INEOS Energy has signed an agreement with U.S. firm Sempra Infrastructure for the supply of 1.4 million tonnes per annum of liquefied natural gas (LNG) from North America for 20 years, it said on Wednesday. https://bit.ly/39NiTUU

Sky News

- Royal Bank of Canada, Credit Suisse, Santander and Bank of America are being lined up to fund a 5 billion-plus pound takeover bid for Boots from Apollo and Reliance Industries. https://bit.ly/3tTnxHw

- Raisin, one of Europe's leading fintech groups, on Wednesday drafted in Goldman Sachs to help raise fresh funding amid an increasingly bearish environment for growth capital deals. https://bit.ly/3yfkQmx

($1 = 0.9469 euros) ($1 = 0.8165 pounds) (Compiled by Bengaluru newsroom)

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