PRESS DIGEST-British Business - May 22

Reuters2024-05-22

May 22 (Reuters) - 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 online used-car retailer Cazoo Group will appoint administrators from advisory firm Teneo for the viability of its business, the company said in a regulatory filing on Tuesday.

- Tom Hayes, the first trader jailed worldwide for interest rate rigging, was on Tuesday refused permission to appeal against his conviction at the United Kingdom's Supreme Court, but was nonetheless given a potential route to clear his name.

The Guardian

- AstraZeneca aims to grow revenue by about 75% to $80 billion by 2030, it said on Tuesday, boosted by the expected launch of 20 new medicines and through growth in its cancer, biopharmaceuticals and rare disease portfolio.

- Britain cannot afford to give the "cold shoulder" to China, the City minister said on Monday, in comments that will distance the British government from the Biden administration's protectionist crackdown.

The Telegraph

- Voters believe Britain's opposition Labour leader Keir Starmer has the best plan for the country, despite British Prime Minister Rishi Sunak's claim the Conservatives are the only party to have a "plan" for the future, a poll has found.

- Britain said on Wednesday it wanted to build a new large-scale nuclear power station in north Wales, naming a site on the island of Anglesey as its preferred location and launching talks with international energy companies about building the plant.

Sky News

- Embattled British fashion retailer Superdry is preparing to run an emergency four-week sale process if creditors block its founder's plans to inject up to 10 million pounds ($12.71 million) of his own money into the fashion chain in a bid to stave off insolvency.

($1 = 0.7868 pounds)

(Compiled by Bengaluru newsroom)

((globalnewsmonitoring@thomsonreuters.com))

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