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PRESS DIGEST-British Business - Oct. 13

Reuters logo Reuters 10/12/2021

Oct 13 (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

- A key investor presentation intended to soothe City jitters over THG Plc backfired spectacularly on Tuesday when it was followed by a barrage of sell orders and 1.9 billion pounds ($2.58 billion) was wiped from the company's value.

- Activist investor Bluebell Capital Partners has called for the resignation of the chairman of GlaxoSmithKline Plc in an escalation of the campaign to force change at the top of one of Britain's biggest drugs groups.

The Guardian

- The European Union will offer to remove a majority of post-Brexit checks on British goods entering Northern Ireland as it seeks to turn the page on the rancorous relationship with the UK Prime Minister Boris Johnson.

- The U.S. private equity giant Blackstone Inc has struck a deal with Merck Mercuriadis, who advises the London-listed music rights business Hipgnosis, to set up a $1 billion venture to acquire music rights and manage catalogues.

The Telegraph

- The 29-year-old founder of Gymshark Ben Francis is in line for a fortune worth at least 700 million pounds as the online sportswear brand eyes a London stock market debut.

- The world's largest shipping firm A.P. Moller-Maersk A/S has diverted giant cargo ships away from the UK, leading to fears of a shortage of toys, clothes and electronics at Christmas.

Sky News

- Advisers to Park Holidays have shortlisted Starwood Capital in an auction of the resort operator that is expected to fetch up to 850 million pounds, Sky News understands.

($1 = 0.7361 pounds) (Compiled by Bengaluru newsroom)


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