January 11, 2019 / 12:30 AM / 4 months ago

PRESS DIGEST- British Business - Jan 11

Jan 11 (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

- British PM Theresa May was appealing to Britain's biggest unions last night in an attempt to win Labour support for her Brexit deal. The prime minister called Len McCluskey, the head of Unite, as she intensified her efforts to build support across party lines. bit.ly/2RnmDlm

- The City watchdog Financial Conduct Authority is expected to scrutinise share trades at Brighton Pier Group PLC after a 14 per cent fall in the stock price in the two days before yesterday's profit warning. bit.ly/2RmceGV

- Jaguar Land Rover workforce will be cut by 6,000, or 15 per cent, with a decision to axe a further 4,500 jobs this year. Separately, Ford Motor Co has warned that more than 7,000 engine and gearbox manufacturing and development jobs are under threat as it is shaking up its European operations. bit.ly/2Rn5ubM

The Guardian

- The chairman and chief executive of Debenhams PLC have been ousted from the retailer's boardroom after two major shareholders – including Mike Ashley's Sports Direct International PLC voted against them. The chairman, Ian Cheshire, stepped down immediately while the chief executive, Sergio Bucher, will stay on but not as a director. bit.ly/2Ri67Dn

- Tesco and Marks & Spencer have become the latest big names to reveal that they are stockpiling packet and tinned foods as retailers' no-deal Brexit preparations move up a gear now that the frenetic Christmas trading period is behind them. bit.ly/2RjbO3Y

The Telegraph

- The energy industry regulator Ofgem has admitted that there are too many unsustainable energy suppliers providing gas and electricity to British homes after it encouraged a stampede of startups into the market. bit.ly/2RnjBO0

- Biotech company Angle has scored a win after its blood testing technology was central in helping doctors discover a potentially ground-breaking treatment for cancer. The Aim-listed firm's device, called Parsortix, is able to catch tumour cells circulating in the blood through a simple blood test. bit.ly/2Rjudhd

Sky News

- Honda Motor Co will stop production for six days in April due to Brexit logistics and border disruption. Production at its Swindon plant will halt days after the UK leaves the EU to help the company cope with any problems around the exporting of cars and importing of spare parts. bit.ly/2Ro3nUY

- Regional Airline Flybe is close to being taken over by a consortium led by Virgin Atlantic in a cut-price deal that will underscore the aviation sector's huge financial challenges. Virgin Atlantic has agreed to join forces with Flybe's other suitor, Stobart Group Ltd, to form a new company that will also comprise the Stobart Air franchise operation. bit.ly/2Rnkhmw

The Independent

- A no-deal Brexit would be "catastrophic" for the UK's food supplies, farmers have warned. The UK's four farmer's unions have urged MPs to take "all necessary steps" to avoid crashing out of the EU with a no-deal Brexit as it would have "serious implications", including higher prices for consumers and disruption to food supplies. ind.pn/2RjeHBQ

Compiled by Bengaluru newsroom; Editing by Sandra Maler

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