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PRESS DIGEST-British Business - Sept 10

·2 mins read

Sept 10 (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

- The $16.6 billion dollar takeover of Tiffany by LVMH has hit the rocks after the French luxury group said that it was pulling out and the New York jeweller has said it will sue. https://bit.ly/2GGlZLj

- Pizza Hut Restaurants has confirmed plans to close about 29 of its 244 sites across Britain with the loss of up to 450 jobs. https://bit.ly/35hfSaK

The Guardian

- Businesses in England that are forced to shut because of local COVID-19 lockdowns will be able to claim up to 500 pounds ($650.10) a week in government grants, under new measures announced by the Treasury. https://bit.ly/2Fi4r7U

- Ryanair Holdings Plc has cut its annual passenger target to 50 million, a reduction of 10 million, as Europe's biggest carrier expects the winter travel market to be a "write-off". https://bit.ly/3m4sEzf

The Telegraph

- BT Group Plc is poised to hit millions of households with an inflation-busting bill increase, piling further pressure on workers as they confront the economic toll of COVID-19. https://bit.ly/2GBZya7

- Lloyds Banking Group has revived its restructuring plans by axing 865 jobs, months after it revealed gloomy forecasts for the UK economy. https://bit.ly/3k1ndiB

Sky News

- Leading investors in Pearson Plc, the FTSE-100 educational publisher, are planning to vote against a $9 million pay award for its new chief executive. https://bit.ly/3iaD6mt

- Billionaire Philip Day is exploring a sale of the Jaeger and Austin Reed labels after being approached by prospective buyers. https://bit.ly/3bKOpiE

($1 = 0.7691 pounds) (Compiled by Bengaluru newsroom)