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PRESS DIGEST- British Business - July 26

PRESS DIGEST- British Business – July 26

Britain’s biggest bookmaker William Hill Plc said it would listen to any proposal that might be forthcoming after receiving a “highly preliminary approach” over the weekend, but cautioned: “It is not clear a combination of William Hill with 888 Holdings Plc and Rank Group Plc will enhance William Hill’s strategic positioning or deliver superior value to William Hill’s strategy.” bit.ly/2aq6cQK

A huge investment programme at Arm Holdings Plc will propel Britain’s largest technology company on to the same plane as Google, Facebook, Amazon, Apple and Alibaba, its new owner, SoftBank Group Corp Chief Executive Masayoshi Son said. bit.ly/2aq7bQZ

The Guardian

The UK Financial Conduct Authority should be stripped of its powers to fine and ban individuals for wrongdoing, according to a report by MPs that calls on new chancellor Philip Hammond to commission an independent review into whether an alternative investigatory body should be set up. bit.ly/2aq7gUV

Philip Green has instructed lawyers to demand an immediate apology from Frank Field, one of the senior MPs who led an inquiry into the failure of British retailer BHS. The billionaire retail tycoon launched a fightback on Monday, hours after he was heavily criticised in a report by two House of Commons committees, one of which is chaired by Field. bit.ly/2aq8oI6

The Telegraph

Ryanair Holdings Plc will start cutting flights from the UK later this year as part of the Irish budget airline’s plans to “pivot” investment away from the country following the surprise vote to leave the European Union. bit.ly/2aq8OOB

EDF SA is preparing to take a long-awaited final investment decision on its proposed Hinkley Point C project, which would be Britain’s first new nuclear plant in a generation. bit.ly/2aq8OhE

Sky News

Britain’s taxi-app wars will step up a gear this week when Hailo unveils a merger with MyTaxi as part of a strategic investment by Daimler AG, one of the car industry’s biggest manufacturers. Sky News has learnt that Hailo will announce on Tuesday that it is to become part of the Mercedes-Benz-owner’s portfolio in an effort to take on Uber, the world’s most valuable taxi-hailing app. bit.ly/2aq8wao

The Independent

Payments from a 3 billion pounds ($3.93 billion) European development fund were suspended indefinitely by the UK government, just days after the vote to leave the EU, the Independent can reveal. In a move that exposes the almost immediate impact of Brexit on the UK economy, businesses say they have been told they will not now receive money that was due to be paid out under the European Regional Development Fund. ind.pn/2aq9d3y ($1 = 0.7635 pounds)

Courtesy : reuters.com



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