PRESS DIGEST- British Business – Aug 28

Aug 28 (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

– British floor coverings retailer Carpetright Plc said on Tuesday that London-based Meditor has bought its 40.7 million pounds ($49.97 million) revolving credit facility from its lenders.

– Well pharmacy chain’s chief executive officer says the company has spent 7 million pounds building stocks of medicine to prepare for a potentially disruptive Brexit, contrary to government advice.

The Guardian

– British Airways has drafted in almost 100 extra staff to deal with a flood of complaints from customers trying to re-book flights and chase refunds in the run-up to next month’s pilot strikes.

– The BBC is preparing to launch a rival to Amazon’s Alexa called Beeb, with a pledge that it will understand British accent.

The Telegraph

– BP Plc is selling its entire Alaska business to private oil and gas firm Hilcorp Energy for $5.6 billion, ending six decades of operating in the U.S. state.

– The government will not break its “fiscal rules” on public spending in the run-up to Brexit, Chancellor Sajid Javid will warn on Wednesday as there will not be “blank cheques” for Whitehall departments.

Sky News

– Topshop owner Arcadia Group’s restructuring plans are back on track, after the landlord of its flagship stores in New York withdrew its legal challenge to the process.

– Bury FC have been expelled from the English Football League as it failed to secure new ownership after a proposed deal by C&N Sporting Risk earlier fell through at the last minute.

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The Independent

– National Westminster Bank Plc and Royal Bank of Scotland Group Plc have been hit by the second major technical glitch in a week, leaving both banks’ main websites out of action for hours.

$1 = 0.8145 pounds
Compiled by Bengaluru newsroom;
Editing by Sandra Maler



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