Press "Enter" to skip to content

PRESS DIGEST- British Business – Jan 31


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

– Deutsche Bahn AG Chief Executive Officer Rudiger Grube quit with immediate effect after failing to be offered a three-year extension of his contract, which paid 900,000 euros ($963,000) per year. With bonuses his pay came to 1.4 million euros ($1.50 million) in 2015.

– Vodafone Group Plc said that it was “in discussions” about an all-share merger with Idea Cellular Ltd . Folding the two companies together would create a market-leading network with more than 370 million users in India.

The Guardian

– Weetabix has warned that it may become the latest consumer brand to raise prices this year as a result of the pound’s slump since the Brexit vote. The breakfast cereal manufacturer said if prices were to go up, the increases would probably be in the “low single digits”.

– A group of six financiers including a former senior HBOS banker face jail after being convicted on Monday for their roles in a scam involving 245 million pounds ($306.10 million) worth of fraudulent loans.

The Telegraph

– HgCapital Trust Plc has sold Leeds-based vehicle hire business Zenith to private equity peer Bridgepoint for 750 million pounds ($938 million). Zenith, which leases cars and provides services such as breakdown cover to various blue-chip companies, is the largest independent vehicle leasing business in the United Kingdom.

– Britons remained upbeat about their career prospects amid an increase in real incomes and a still buoyant jobs market, as consumers shrugged off the Brexit vote. Five of Deloitte’s six measures of consumer optimism rose in its latest quarterly survey, even as its overall confidence barometer edged down in the final quarter of 2016 compared with the previous three months.

Sky News

– Campaigners have failed in a legal bid to block the prospect of a third runway at Heathrow Airport. An alliance of councils and Greenpeace UK was seeking clearance for a judicial review of the Government’s support for the expansion.

– British Columbia Investment Management Corporation will announce on Tuesday that it has agreed to buy a majority stake in Hayfin Capital Management in a deal worth about 215 million pounds.

The Independent

– Standard Chartered Plc hired former boss of the Financial Conduct Authority, Tracey McDermott, to oversee regulation. McDermott has become the latest in a long line of senior public officials who have secured lucrative employment in the private sector.

($1 = 0.9346 euros) ($1 = 0.8004 pounds)

(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)