PRESS DIGEST-British Business - July 28

·2 min read

July 28 (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

- The largest investor in WM Morrison Supermarkets Plc , Silchester International Investors, said it is 'not inclined' to support a 6.3 billion pounds ($8.74 billion) takeover of the supermarket group by a private equity-led consortium. https://bit.ly/3zKljeq

- FirstGroup Plc said Chief Executive Officer Matthew Gregory would leave, days after it completed a 3.3 billion pounds demerger of the company's U.S. buses from its operations in the UK and 24 hours after the company's largest shareholder, the U.S. hedge fund Coast Capital, openly criticised his 'competency' and told him that he must go. https://bit.ly/3iRy7c4

The Guardian

- Tesco Plc is offering a 1,000 pounds signing-on fee for lorry drivers who join the company before the end of September, as it scrambles to overcome a desperate shortage of workers that has led to gaps on supermarket shelves. https://bit.ly/3f56hYB

- Tony Abbott, the former prime minister of Australia recruited by UK Prime Minister Boris Johnson to advise on post-Brexit trade, said he was heartened by a review being launched into the takeover of Newport Wafer Fab by Nexperia and suggested it meant the process could be paused. https://bit.ly/3l4gCbe

The Telegraph

- Apple Inc reported a third straight record profit on Tuesday night as the world's largest public company capitalised on incessant demand for its latest iPhones. https://bit.ly/3f3iQDG

- Separate UK and U.S. boards could be formed to protect Britain's national security as a condition of Ultra Electronics Holdings Plc's potential takeover by Cobham, which is owned by U.S. private equity firm Advent. https://bit.ly/3y8B3XT

Sky News

- BioNTech SE, which developed a COVID-19 vaccine with U.S.-based pharmaceutical company Pfizer Inc, is aiming to begin clinical trials for a 'safe and highly effective malaria vaccine' by the end of next year. https://bit.ly/3x8y14P

- The buyout firm behind the Pegasus surveillance technology which last week triggered a global outcry over its use is to be dissolved after its partners failed to resolve a bitter months-long dispute. Sky News has learnt that Novalpina Capital is to be removed as the manager of its fund, with the management of its assets instead taken over by a third party. https://bit.ly/3l4fWCo

($1 = 0.7205 pounds) (Compiled by Bengaluru newsroom)

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