PRESS DIGEST- British Business – July 10

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

Twenty-First Century Fox, Inc is putting the finishing touches on a 25 billion pound ($33.13 billion) bid for Sky Plc in an attempt to outgun Comcast Corp in the battle for the British broadcaster.

Paulson & Co, one of the shareholders trying to oust the chief executive of Premier Foods, has disclosed in a regulatory filing that its stake in the British canned foods maker had risen to 6.08 per cent from 1.99 per cent.

The Guardian

Government advisers say UK should back just one more new nuclear power station in the next few years because renewable energy sources could prove a safer investment.

Martin Sorrell is on the verge of a 300 million euro ($352.68 million) takeover of Dutch agency MediaMonks that will escalate hostilities with WPP Plc, the advertising group he left in April.

The Telegraph

Private equity firm Better Capital has pulled the plug on a 44 million pound deal to sell Northern Aerospace to Gardner Aerospace, which is owned by Shaanxi Ligeance Mineral Resources, after the government delayed the sale on national security grounds.

Sky Plc’s long-serving strategy chief Mai Fyfield is due to leave the company in October as the pay-TV operator prepares for a U.S. takeover by Walt Disney Co or Comcast Corp.

Sky News

An AIM-listed social services group CareTech Holdings has proposed a 600 million pound merger with one of its peers, Cambian Group, in a bid to create a FTSE-250 specialist healthcare provider.

Transport Secretary Chris Grayling is to unveil plans to install hundreds of thousands of new charge points for electric vehicles in a bid to boost ultra-low emission models.

The Independent

Mothercare Plc said on Monday it would be forced to shut 60 stores, 10 more than previously announced, as its chief executive said a quick transformation was needed amid a “brutal” retail landscape.

The government could boost the economy by more than 33 billion pounds per year and alleviate the housing crisis if it increased spending on national infrastructure projects, according to a new report commissioned by the mayor of London.

$1 = 0.7545 pounds
$1 = 0.8506 euros
Compiled by Bengaluru newsroom

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