January 17, 2018 / 12:55 AM / 7 months ago

PRESS DIGEST- Financial Times - Jan 17

Jan 17 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

Uber curbs working hours for its UK drivers

(on.ft.com/2Div0If)

Amanda Staveley’s plans to buy Newcastle United face collapse

(on.ft.com/2DkYLYQ)

Ferrero snaps up Nestle’s U.S. confectionery arm for $2.8 bln in cash

(on.ft.com/2DiAgv8)

Informa, UBM confirm talks about a possible deal

(on.ft.com/2DjHaAE)

Overview

Uber said it has capped the number of hours its British drivers can work before they have to take a break in response to criticism over excessive working hours. The move comes before a legal case this summer to decide whether Uber can operate in London.

A proposed takeover of English Premier League club Newcastle United seemed to have collapsed on Tuesday when associates of Mike Ashley, the football club’s billionaire owner, claimed that long-simmering talks with financier Amanda Staveley had proved “a complete waste of time”. Staveley’s PCP Capital vehicle made an offer of 250 million pounds ($345.03 million) for Newcastle in November.

Italy’s Ferrero has won the auction for Nestle SA’s U.S. confectionery business, paying $2.8 billion cash for brands that include Butterfinger, Crunch, Nerds and Laffy Taffy, and helping it gain a significant presence in the U.S. chocolate market.

Informa Plc is in talks to buy UBM Plc in a deal that will bring operators of conventions and business information services together, creating a company with a market value of more than 9 billion pounds. ($1 = 0.7246 pounds) (Compiled by Bengaluru newsroom; Editing by Sandra Maler)

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