Advertisement

PRESS DIGEST-British Business - Jan 31

Jan 31 (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

- Wael Sawan, the new chief executive officer of Shell Plc , has announced a shake-up of its corporate divisions in a move that will result in an executive team slimmed down to seven from nine people and potential job losses.

- A federal court in the United States has dismissed the bankruptcy filing of Johnson & Johnson's talc unit LTL Management.

The Guardian

- British electric vans startup Arrival SA is cutting 800 jobs, about half its remaining workforce, to reduce costs as it seeks extra funding and plans U.S. expansion to take advantage of green energy subsidies.

- British sports and fashion retailer JD Sports Fashion Plc aid the personal and financial information of 10 million of its customers was potentially accessed by hackers in a cyber-attack.

The Telegraph

- The British arm of German discount supermarket Lidl, Lidl GB, has pledged to spend an extra two billion pounds ($2.47 billion) to buy British products after Tesco Plc and Waitrose came under fire over wranglings with suppliers.

- British insurer and pensions provider Legal & General said its chief executive Nigel Wilson will step down after more than a decade.

Sky News

- Paperchase, the high street stationery retailer, is close to collapsing into administration, as its parent, retail investor Steve Curtis, remains in talks with potential buyers.

- Online upmarket fashion retailer Matchesfashion's owner, Apax Partners, has agreed to inject 60 million pounds into the company.

($1 = 0.8092 pounds) (Compiled by Bengaluru newsroom)