PRESS DIGEST-British Business - March 20
March 20 (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
- Unilever said on Tuesday it will split off its ice cream business and cut 7,500 jobs.
- AstraZeneca struck a deal with Canadian company Fusion Pharmaceuticals, valuing up to $2.4 billion, developing next-generation cancer treatments in its second acquisition in a week.
The Guardian
- British fashion retailer Ted Baker plans to appoint administrators, putting almost 1,000 jobs at risk at the brand.
- Tesco will drop the blue and yellow logo used to promote its Clubcard loyalty scheme, a rebrand that could cost almost 8 million pounds ($10.18 million), after losing an appeal against a ruling that it had copied a design by Lidl.
The Telegraph
- British luxury carmaker Bentley has pushed back the launch of its first battery-electric vehicle (BEV) towards the end of 2026 rather than next year as planned as the demand for hybrid models remains strong.
- British finance minister Jeremy Hunt warned that Britain's pension triple lock can only be sustained with cuts to public sector spending and better economic growth.
Sky News
- The takeover of the Telegraph has been referred for further regulatory scrutiny as the Britain's communications watchdog said the purchase, by an Abu Dhabi-backed investment fund, may "operate against the public interest".
- British media minister Lucy Frazer says that foreign states will not be blocked from owning football clubs, despite deciding to ban foreign states from controlling newspapers.
The Independent
- Jim Ratcliffe has laid out plans to build a "state of the art" stadium for Manchester United with a capacity as high as 100,000.
($1 = 0.7862 pounds) (Compiled by Bengaluru newsroom)
