Company News

PRESS DIGEST- British Business - Oct 2

Oct 2 - 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 John Lewis Partnership has launched a radical overhaul that means that the department store chain and Waitrose food business will no longer be run as two separate entities, resulting in the loss of 75 senior head office jobs and cost savings of 100 million pounds ($122.86 million).

- The Financial Reporting Council is to investigate the auditing of Thomas Cook Plc's accounts by audit firm Ernst & Young in the year before the company's collapse.

The Guardian

- Bakery chain Greggs is preparing to stockpile bacon and tuna and has switched to buying all its cheese in the UK as the bakery chain tries to avert shortages in the event of a chaotic Brexit.

- Harland and Wolff, the Belfast shipyard that built the Titanic, has been saved from closure after InfraStrat Plc , a London-based energy company stepped in with a 6 million pounds rescue deal.

The Telegraph

- Bombardier has struck a deal worth 100 million euros ($109.35 million) to power trains with lithium batteries, in a major milestone that could cut the cost of a multibillion-pound government commitment to fully electrify Britain's railways by a third.

-Uber Technologies Inc is expected to strike a deal for new, much larger UK headquarters in London once regulators have decided whether to ban the company from the city.

Sky News

- Online fashion retailer Asos, which has been buffeted by a series of profit warnings, will on Wednesday unveil a boardroom shake-up as part of an attempt to rebuild relations with investors.

- British finance minister Sajid Javid has revealed scrapping inheritance tax is "something that's on my mind" and he "understands the arguments against that tax".

The Independent

- Four energy suppliers have been ordered to pay 14.7 million pounds in overdue green taxes by the end of the month or face having their licences revoked. ($1 = 0.8139 pounds) ($1 = 0.9145 euros) (Compiled by Bengaluru newsroom)