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PRESS DIGEST- British Business - Oct 5
October 5, 2017 / 12:24 AM / 2 months ago

PRESS DIGEST- British Business - Oct 5

Oct 5 (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

-Tesco Plc has restored its dividend after a three-year hiatus in a "symbolic" moment for a company that three years ago was reeling from an accountancy scandal and market downturn. bit.ly/2fT3vu6

-Facebook Inc's tax affairs fell under the spotlight again after it revealed that it paid 5.1 million pounds ($6.75 million) corporation tax in Britain last year, even though its revenues quadrupled to 842 million pounds ($1.11 billion). bit.ly/2fSdQ9N

The Guardian

-Guinness owner Diageo Plc , is planning to redevelop part of the brewer's Dublin site, renovating the historic buildings in a scheme to create offices, shops, hotels and housing. bit.ly/2fSqpSs

-The Unite union of Monarch Airlines has launched legal action on behalf of more than 1,800 Monarch staff who were laid off, in a move that could add millions to the taxpayers' bill for the collapse of the airline. bit.ly/2fSHNXj

The Telegraph

-Airbnb is looking to grab a larger slice of the business trip market in partnering with WeWork Cos to offer those staying in accommodation listed on its website the option to rent a desk in their nearest office. bit.ly/2fRNLaR

-The co-founder of convenience store chain McColl's Retail Group James Lancaster has stepped down from the board and sold his entire remaining stake for 33.6 million pounds ($44.46 million) as he gears up to lead a rescue of embattled wholesaler Palmer & Harvey Plc. bit.ly/2fRNCUR

Sky News

-Bidders for Flora margarine are signing up some of Unilever Plc's former top executives to smooth a path to a 6 billion pounds ($7.94 billion) takeover of the Anglo-Dutch consumer goods company's spreads division. bit.ly/2fQ3IhG

-TMF Group will unveil plans for a 1 billion pound ($1.32 billion) London listing this week that will provide a boost to the City's lukewarm market for company flotations. bit.ly/2fRvmeo

The Independent

-The United Kingdom's Big Six gas and electricity suppliers saw billions wiped off their stockmarket valuations after Prime Minister Theresa May outlined plans to go ahead with a cap on energy prices. ind.pn/2fRNOU8

$1 = 0.7557 pounds Compiled by Bengaluru newsroom

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