PRESS DIGEST-British Business – June 29

June 28 (Reuters) – Here are the main articles on the business pages of British newspapers. Reuters has not verified these stories and does not guarantee their accuracy.


– Nearly a billion pounds ($ 1.39 billion) was wiped off Burberry’s stock market value on Sunday after Britain’s biggest luxury brand announced the surprise departure of Marco Gobbetti as chief executive.

– Japanese automaker Nissan is set to engage in a “gigafactory” in Sunderland to manufacture batteries for electric cars as part of a government-backed investment that will create thousands of jobs.

The Guardian

– Norwegian state oil company Equinor will triple its hydrogen production in the UK, after laying out plans to build the world’s largest hydrogen production plant with carbon capture and storage technology near Hull.

– The Confederation of British Industry (CBI), the UK’s largest business lobby group, called on the government to ease post-Brexit immigration rules to help businesses struggling with staff shortages to hire more workers abroad.

The telegraph

– UK ministers refuse to disclose how much a dispute over an HS2 contract has cost taxpayers after reaching an out-of-court settlement with Talgo, a Spanish train manufacturer.

– Hopes have been dashed that flights between the UK and US will restart this summer, hitting the travel plans of millions of Britons, as talks between officials on either side of the Atlantic are unlikely to be successful by the end of July.

Sky News

– IWG, the world’s largest serviced office group and rival to WeWork, has secretly discussed a potential takeover offer that could value the company at more than £ 4 billion.

($ 1 = 0.7214 pounds) (Compiled by Bengaluru Newsroom)

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