U.S. Markets closed

PRESS DIGEST- British Business - June 6

June 6 (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

- Meg Whitman said she was "happy" to throw her predecessor as boss of the technology group Hewlett Packard "under a bus" amid the recriminations that followed its $8.8 billion writedown of Autonomy, according to documents released yesterday. https://bit.ly/2K6Ao4f


- British insurer Aviva Plc has announced the departure of its chief financial officer, Tom Stoddard, in the latest senior management change after investors' dissatisfaction with the group's performance and last year's controversial plan to cancel preference shares. https://bit.ly/2Kt6ExG

The Guardian

- Carmaker Ford Motor Co is planning to close its Bridgend engine plant, with the likely loss of about 1,700 jobs, in the latest blow to the embattled British car industry. https://bit.ly/2HZyboV


- Jaguar Land Rover is teaming up with BMW in a partnership designed to lower costs and try to get ahead in the race to produce electric cars for the mass market. https://bit.ly/2ERIV6Q


The Telegraph

- The "bad bank" set up following the collapse of Northern Rock and Bradford & Bingley has fully repaid a 48.7 billion pounds ($61.79 billion) taxpayer loan. https://bit.ly/2HXriUO


Pressure mounted on the beleaguered British fund manager Neil Woodford as his firm lost a 3.5 billion stg mandate to manage St James's Place investments and the City watchdog said it is watching developments "closely." https://bit.ly/2IhQMLK


Sky News

- The future of Philip Green's Arcadia remains in the balance after a meeting to secure backing for a rescue plan was adjourned until June 12. https://bit.ly/31cZnYM


- Mike Ashley's Sports Direct International Plc has launched a 51.9 million pounds takeover offer for Game Digital after increasing its stake in the gaming retailer. https://bit.ly/2XsYfxL ($1 = 0.7881 pounds) (Compiled by Bengaluru newsroom)