PRESS DIGEST-British Business – Dec 24

Dec 24 (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 insurer Aviva has reached an agreement to buy smaller rival Direct Line in a 3.7 billion pound ($4.64 billion) cash-and-stock deal that is expected to result in about 2,000 job cuts as the group moves to capture 125 million pounds of cost savings.

– Frasers Group intends to put forward a new candidate for Boohoo’s board after shareholders rejected the appointment of founder Mike Ashley.

The Guardian

– Supermarket chain Morrisons is giving loyalty card holders a 10% discount on an entire shop after a glitch hit the promotional scheme and discounted prices on some items for all shoppers.

The Telegraph

– Royal Mail managers have been accused of faking deliveries in order to preserve their annual bonuses.

– The new government of Mauritius is refusing to sign off on the Chagos deal unless it receives more money, its deputy prime minister Paul Berenger has hinted, telling constituents that negotiations with the UK were being held up over the amount of money involved.

Sky News

– Chocolate maker Cadbury is among the brands that have had their warrants withdrawn under King Charles and says it is “disappointed” after losing its royal warrant after 170 years.

– The British economy is “headed for the worst of all worlds” as businesses expect activity to fall at the start of next year, according to the Confederation of British Industry (CBI).

The Independent

– Peter Mandelson is said to be ready to work with Reform UK leader Nigel Farage to help him win over President-elect Donald Trump in his new role as UK ambassador to the U.S. and persuade him not to target Britain with tariffs.

($1 = 0.7982 pounds) (Compiled by Bengaluru newsroom)

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