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PRESS DIGEST- British Business - April 25
April 25, 2017 / 12:40 AM / 8 months ago

PRESS DIGEST- British Business - April 25

April 25 (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

- PPG raised its offer to 24.6 billion euros to acquire Dulux paint maker Akzo Nobel, which is more than 17 percent higher than its first sighting shot in early March. This is the third takeover offer and an apparent threat that this would be the last friendly approach.

- Anglo American reported higher production levels for the first quarter of the year as its outgoing chairman confirmed that the recovery in commodity prices had removed the pressure to sell off its mines.

The Guardian

- Shares in British Gas owner Centrica, UK’s largest energy supplier, fell 4.2 percent, while SSE shares fell 3.2 percent in the wake of the Conservative party’s pledge to cap energy bills.

- Foster + Partners, plans to lay off nearly 100 people, and blamed the uncertainty around construction projects caused by last summer’s Brexit vote.

The Telegraph

- Vodafone's UK arm has wasted millions of pounds on pay-TV channel contracts that it is now seeking to escape, in the latest sign of the telecoms giant's challenges in its home market. It now faces penalty payments to break the agreements early.

- Activist investor Elliott Advisors revealed it has built up a 6.8 percent stake in British engineering giant WS Atkins , which has just accepted a takeover offer.

Sky News

- Shares in British luxury brand Jimmy Choo have soared to a record high after it put itself up for sale. It was to conduct a review of various strategic options to "maximise value for its shareholders," including the possibility of a sale.

- Co-operative Bank will this week pick new advisers to negotiate a restructuring deal with its investors as hopes of an outright sale of the company diminish.

The Independent

- UK companies risk reducing the issue of diversity to a mere footnote of other priorities, even though it’s a key driver of productivity and competitiveness, according to director-general of the Confederation of British Industry, Carolyn Fairbairn. (Compiled by Sangameswaran S)

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