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PRESS DIGEST- British Business - June 2
June 2, 2017 / 12:30 AM / 2 months ago

PRESS DIGEST- British Business - June 2

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June 2 (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 Industries Inc has walked away from pursuing a hostile 26.9 billion euros ($30.17 billion) offer for Akzo Nobel NV, the Dutch owner of Dulux paints, after weeks of fractious wrangling between the two companies. bit.ly/2qLWFGf

Britain may be back in the European Union in little more than five years if the common market radically reinvents itself, George Soros, the billionaire financier who once beat the Bank of England, has speculated. bit.ly/2qLKyJc

The Guardian

Willie Walsh, the chief executive of British Airways (BA)parent company International Consolidated Airlines Group SA , has praised BA bosses for "doing everything possible" after the IT meltdown that left 75,000 passengers stranded over the bank holiday weekend. bit.ly/2qLwUWC

Alphabet Inc's Google has officially submitted plans for its new 1 million square feet "landscraper" London headquarters, with the intention of beginning construction on the building in 2018. bit.ly/2qM1VcP

The Telegraph

Lloyds Banking Group Plc has completed a 1.9 billion pounds ($2.45 billion) takeover of credit card issuer MBNA Ltd, significantly boosting its slice of the market just weeks after the Government sold its final shares in the lender. bit.ly/2qLx2FA

The UK pharmaceuticals sector has been told to prepare for a "crisis" Brexit scenario of drastically reduced access to European markets and hundreds of millions of pounds of restructuring costs unless a swift regulatory deal can be struck with Brussels. bit.ly/2qLSBFK

Sky News

Film Finances Inc, a movie financing company with credits including the Hollywood hits La La Land and Nocturnal Animals is plotting a blockbuster premiere on the London stock market that will value it at several hundred million pounds. bit.ly/2qLRaHy

Some of the world's biggest buyout firms have walked away from potential bids for Shop Direct, the online retailer, amid concerns about its reliance on revenues from a vast consumer credit arm. bit.ly/2qLQYbb

The Independent

Workers' union Unite has branded the Bank of England "arrogant and out of touch" after some staff at the bank on Thursday started voting in an industrial action ballot over pay. ind.pn/2qLRFkZ ($1 = 0.8915 euros, $1 = 0.7760 pounds) (Compiled by Bengaluru newsroom; Editing by Andrew Hay)

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