Yahoo Finance PRESS DIGEST-British Business - Nov 29
Nov 29 (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
- Chief Executive Euan Sutherland of Saga, the insurance to cruises group, has quit with immediate effect after four difficult years, handing over the reins to his newly appointed finance director Mike Hazell.
- Euan Blair, founder and chief executive of apprenticeship provider Multiverse, told staff that he was "deeply sorry" to place 44 jobs at risk, most of which are in the United States, calling it "the toughest decision I have made to date".
The Guardian
- Rolls-Royce will sell its electric flight division as it focuses on improving profits in its jet engine business, under a new plan from Chief Executive Tufan Erginbilgic.
- Lisa Wilkinson, the former chair of Wilko, told MPs she was devastated by the collapse of the budget retailer as she claimed the family's multimillion-pound fortune was not enough to rescue it.
The Telegraph
- The founder of British luxury fashion site Farfetch is plotting to take the company private after a disastrous U.S. float.
- Britain's finance minister Jeremy Hunt's tax traps are hurting the economy because they do not make work pay, according to a top official at the Government's spending watchdog.
Sky News
- The National Grid is to pay some households to cut their energy use after activating its blackout prevention scheme during the current cold snap.
- The British government is considering issuing an edict used in corporate mergers to prevent The Daily Telegraph's long-standing owners from exerting influence over the newspaper if it permits a loan of 1 billion pound plus to be repaid to Lloyds Banking Group.
(Compiled by Bengaluru newsroom)
