PRESS DIGEST- British Business - June 15
June 15 (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
- One of Britain's largest law firms, DWF, is set to list on the London Stock Exchange later this year with a valuation of up to 1 billion pounds. https://bit.ly/2HRiOLJ
- Unilever has told investors it is "extremely unlikely" it will retain a position in the FTSE 100 index after it abandons its 88-year dual governance of being based in the Netherlands and the UK. https://bit.ly/2HRjhNZ
The Guardian
- The European Central Bank has shrugged off evidence of a slowdown in the eurozone and announced that it will phase out the stimulus provided by its massive three-year bond-buying programme to the eurozone economy by the end of the year. https://bit.ly/2y8cD6q
- A group of MPs have said they will publish a report into what Lloyds Banking Group Plc knew about a fraud at its HBOS Reading unit, following years of campaigns for full disclosure by its victims. https://bit.ly/2y9AEKz
The Telegraph
- Stobart Group Ltd has sacked former chief executive Andrew Tinkler and accused him of "subverting the company in his own interests" while demonstrating a "flagrant disregard for fiduciary duties". https://bit.ly/2yeULa6
- AT&T Inc's takeover of Time Warner Inc could close as early as this week, after the U.S. government decided against seeking to delay the blockbuster deal. https://bit.ly/2t7SRSY
Sky News
- Rolls-Royce Holdings Plc is to cut 4,600 managerial and support jobs as the jet engine maker introduces its latest restructuring plan. Most of the jobs will be axed in the UK, where the FTSE 100 company employs 23,000 out of a global workforce of 50,000. https://bit.ly/2LOBVbW
- UK retail sales soared for the second month in row in May. The Office for National Statistics said retail sales volumes in the month rose by 1.3 percent, after they rose a revised 1.8 percent in April. https://bit.ly/2sXHNsm
The Independent
- UK's rail passenger numbers fell by 24 million last year due to a sharp decline in the number of season tickets purchased. Figures from the Office of Rail and Road revealed the sharpest decline in rail usage since privatisation in the mid-1990s, casting further doubt on the profitability of some franchises. https://ind.pn/2l8q0tW
(Compiled by Bengaluru newsroom)
