September 6, 2018 / 12:21 AM / 2 months ago

PRESS DIGEST- British Business - Sept 6

Sept 6 (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

- Dominic Chappell, the disgraced former owner of BHS, and his father, Joseph, could soon be banned from serving as company directors. Greg Clark, the business secretary, began proceedings against the two men in the Director Disqualification Court, part of the High Court, on Tuesday. (bit.ly/2wJU196)

- Fraud investigators suffered a serious blow when the Court of Appeal overturned a judgment that Eurasian Natural Resources Corporation must hand over documents prepared by lawyers and forensic accountants as part of its inquiry into whistleblower claims. (bit.ly/2wJonIJ)

The Guardian

- Royal Bank of Scotland Group Plc is to close a further 54 branches in England and Wales with the loss of 258 jobs. The closures, in January 2019, come on top of the 162 branches the bank axed in May. (bit.ly/2ClJK9a)

- House of Fraser is facing further pressure after Edinburgh Woollen Mill group, which owns the Jacques Vert, Jane Norman and Jaeger brands, began withdrawing its stock on Wednesday. (bit.ly/2CmYSTy)

The Telegraph

- Volvo has unveiled a futuristic concept car that it hopes will replace short-haul air travel and introduce new safety standards that could put driverless vehicles on the roads sooner. (bit.ly/2wKbwXu)

- The future of restaurant chain Gaucho is looking brighter after a deal with lenders was struck to save the steakhouse and its 750-strong workforce. South African bank Investec and Hong Kong fund SC Lowy, Gaucho's lenders, are to buy Gaucho's 16 restaurants from administrator Deloitte. (bit.ly/2oIMgfL)

Sky News

- Britain and France said they have reached an agreement in principle over a fishing dispute that has led to recent violence in the Channel. (bit.ly/2wN1uFb)

- Melrose Industries Plc has asked RW Baird to sound out buyers for Off-Highway Powertrain, a division of GKN which provides driveshafts and gearboxes for vehicles used in the agriculture and mining sectors. (bit.ly/2wPXTGc)

The Independent

- U.S. biotech start-up Theranos has confirmed its business is to be dissolved. The troubled blood-testing company would fold as part of its agreement with Fortress Investment Group, which provided it with a last-minute loan in late 2017 to save it from bankruptcy on the condition that it had the legal right to foreclose and take ownership of its assets should Theranos's balance fall below an agreed amount. (ind.pn/2CjtPbc)

Compiled by Bengaluru newsroom; Editing by Lisa Shumaker

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below