Company News

PRESS DIGEST-British Business - May 26

May 26 (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

- Bombardier Transportation has told the government that it will be "unable to continue production" without support as it burns through cash during the lockdown.

- Pre Pack Pool, the body set up to review the sale of companies to connected parties through pre-pack administrations has warned that it is at risk of collapse because it is being shunned.

The Guardian

- Markerstudy Group, the owner of Auto Windscreens has imposed 20% pay cuts on staff who have not agreed to them – and allegedly pressured other employees into consenting – as it attempts to slash costs to survive the Covid-19 pandemic.

- Bangladesh clothing manufacturers are threatening to halt production and deliveries to billionaire Philip Day's Edinburgh Woollen Mill group in a battle over alleged 27 million pound in unpaid bills.

The Telegraph

- High street shops, department stores and shopping centres are set to reopen on June 15 in the biggest easing of the lockdown since coronavirus hit Britain, Boris Johnson announced on Monday night.

- A top German court has ruled against Volkswagen AG over its "dieselgate" emissions scandal, paving the way for car owners to receive compensation from the automotive giant.

Sky News

- Brigadier Acquisition, the company behind a 22 million pound takeover of Moss Bros Group, the men's suits retailer, has abandoned an attempt to scrap the deal amid the coronavirus pandemic.

- Exscientia, a British company which uses artificial intelligence to discover new drug molecules has turned to one of the world's top life sciences investors to lead a near 50 million pound capital injection.

The Independent

- A defiant Dominic Cummings said he did not regret driving 260 miles during lockdown and that he still believed his journey was "reasonable" as he broke his silence to fight for his political career.

Compiled by Bengaluru newsroom