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PRESS DIGEST- British Business - July 10
July 9, 2017 / 11:51 PM / 5 months ago

PRESS DIGEST- British Business - July 10

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

- External consultants have been drafted in by BT as part of a cost-cutting drive aimed at rebuilding its reputation. The telecoms group has been working with McKinsey to find efficiency savings as it prepares to face shareholders at its annual meeting on Wednesday.

- Santander has gone back on a plan to allow its private British shareholders to take part in a 7.1 billion euro capital-raising this month. Europe’s biggest bank, which has 1.4 million Britons among its shareholders, said that it was not practicable to allow them to participate.

The Guardian

- Wealthy hotel operator Surinder Arora, Chairman of Arora Group has submitted plans for a third runway at Heathrow which he claims would be 6.7 billion pounds cheaper than the airport’s current scheme.

The Telegraph

- The BBC is considering a cull of its mobile apps in the next phase of its rearguard action against the growing influence of Netflix and Amazon.

- British specialist engineering services provider TP Group is embarking on a fundraising to build up a 23.9 million pound war-chest as it eyes acquisition targets in the defence, aerospace and government sectors.

Sky News

- CBI is poised to name Tesco's Chairman John Allan as its vice-president, a role that is expected to lead to him taking over from Paul Drechsler next year.

- Theresa May has been warned by the Confederation of British Industry not to rush into Donald Trump's "bear hug" and try to negotiate a free trade deal with the US too quickly.

The Independent

- British Airways is paying staff working normally the bonuses that would have gone to their colleagues who are on strike.

Compiled by Bengaluru newsroom; Editing by Chris Reese

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