July 2, 2015 / 12:20 AM / 2 years ago

PRESS DIGEST- British Business - July 2

3 Min Read

July 2 (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

The head of one of Britain's biggest law firms is quitting to take up a new role at Lloyds Banking Group, in a move that surprised the banking and legal worlds. Simon Davies, managing partner at Linklaters since 2008, will join Lloyds from January in a newly created role as chief people, legal and strategy officer. (thetim.es/1KsQA7y)

Tool rental group Speedy Hire has parted company with its second chief executive in 18 months after a shake-up of the business sent profits plunging. Mark Rogerson has decided to step down as chief executive officer. (thetim.es/1KsUoWC)

The Guardian

Barclays has shed light on the cost of hiring its new IT director from Australia, revealing he was paid 1.6 million pounds ($2.50 million) worth of shares last month. The award, which was announced to the stock exchange, was part of deal to buy Michael Harte out of his role at Commonwealth Bank of Australia. (bit.ly/1KsVBgC)

Scotland's Gleneagles hotel, the golf resort that has hosted the Ryder Cup and the G8 summit, has been sold to the leader of the private investment group Ennismore. It is a company that runs hotels fashioned after east London's hipster district Hoxton. (bit.ly/1Kt0AxS)

The Telegraph

British brewer Greene King has completed its acquisition of Spirit Pub Co, the brewer said, as it announced full-year sales of 1.32 billion pounds, up 3 percent. (bit.ly/1KsWs0P)

Greece's embattled prime minister, Alexis Tsipras, has refused to back down over a referendum on the country's bail-out future, despite being threatened with imminent financial ruin and a banking collapse as early as Monday if he chooses to press ahead with the vote. (bit.ly/1KsWzcI)

Sky News

Giant investment firms Blackstone and CVC are examining takeover bids for Worldpay, the UK-based payment processing group which is drawing up plans for a stock market listing valuing it at 6 billion pounds. (bit.ly/1KsXs59)

British Prime Minister David Cameron has said he will decide by the end of the year whether to expand Heathrow. The Airport Commission has named the airport as the preferred site for a new runway after a three-year investigation and recommended Heathrow be expanded to include a third runway. (bit.ly/1KsYazj)

The Independent

Nike Inc chairman Phil Knight will step down from sportswear company he built into a multinational worth $93 billion. Knight announced that, at 77, Knight will step down next year. (ind.pn/1KsZuCc)

$1 = 0.6408 pounds Compiled by Mansi Goenka in Bengaluru

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