British Business - Sept 5
Sept 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
- Swedish automaker Volvo Cars VOLCARb.ST scrapped its target of going all electric by 2030 on Wednesday, saying it now expected to still be offering some hybrid models in its lineup at that time.
- The British government is set to abandon plans drawn up by the Conservative administration for a "British Isa" designed to encourage investment in UK stocks.
The Guardian
- Amazon AMZN.O has announced a pay rise worth nearly 10% for tens of thousands of UK employees, after defeating an attempt by the GMB trade union for bargaining rights over pay and conditions.
- Volkswagen VOWG_p.DE has "one, maybe two" years to turn its main car brand around, its finance chief said on Wednesday, as the auto giant weighs its first ever plant closures in Germany and its powerful unions threaten a fight.
The Telegraph
- Creditors to Thames Water are attempting to broker a peace deal between the beleaguered supplier and regulator Ofwat amid fears that a breakdown in relations between the two sides risks speeding up the company’s demise.
- The BBC has confirmed plans to cut dozens more jobs in its local operations even as bosses pledged to spend 80 million pounds ($105.1 million) on diversity programmes.
Sky News
- Sixth Street has teamed up with Patron Capital Partners in an effort to trump a rival offer from Persimmon PSN.L for Cala Group.
- The board of Wefox, the troubled European insurance company, has sounded a fresh alarm over its solvency, warning investors that it could collapse before the end of the year without an additional funding boost.
($1 = 0.7607 pounds)
(Compiled by Bengaluru newsroom)
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