British Business - Oct. 2
Oct 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
- British luxury brand Mulberry MUL.L, rejected retailer Frasers' FRAS.L, 83 million pounds ($110.32 million) takeover proposal saying its majority shareholder did not support the bid and that it undervalued the company.
- The Transparency Task Force (TTF) has written to Ashley Alder, the Financial Conduct Authority chairman, and Nikhil Rathi, the regulator's chief executive, accusing FCA officials of misleading the audience over the investor protection regime. Remarks made at the meeting were "factually inaccurate", it said.
The Guardian
- British garden centre chain Dobbies is planning to shut 17 of its 77 stores, affecting 465 jobs, as its new owners try to return the garden centre group to profitability.
- The former chair of the Post Office Henry Staunton has warned of another Horizon-style scandal if so-called "untouchable" investigators and executives involved in the prosecution of sub-postmasters are not fired before the organisation rolls out its new IT system.
The Telegraph
- Gary Lubner, a South African businessman will receive 125 million pounds as repair company Autoglass' debt rating is slashed to 'junk' status. Autoglass owner Belron will reward Gary Lubner and four private equity shareholders a total of 4.3 billion euros ($4.76 billion) in a one-off dividend funded by billions of euros in new debt.
Sky News
- British holiday group Saga SAGA.L is in talks with Belgium-based insurer Ageas AGES.BR regarding a long-term partnership arrangement for its insurance division.
- Michael Ancram, an aristocrat who became a Tory MP, senior government minister, party chairman, deputy leader and grandee, has died aged 79.
($1 = 0.7523 pounds)
($1 = 0.9033 euros)
(Compiled by Bengaluru newsroom)
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