PRESS DIGEST-British Business - March 7

Reuters
07 Mar
PRESS DIGEST-British Business - March 7

March 7 (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

- Barclays BARC.L is set to pay 7.5 million pounds ($9.66 million) in compensation to customers who were hit by a three-day IT meltdown at the bank earlier this year.

- The owner of Boots, Walgreens Boots Alliance WBA.O will be taken private by Sycamore Partners for $10 billion, the firms said on Thursday, closing out nearly a century of trading on public markets for the U.S. pharmacy giant

The Guardian

- UK ministers are preparing to take Roman Abramovich to court in a final attempt to free up more than 2 billion pounds ($2.58 billion) from the sale of Chelsea FC to spend as aid in Ukraine.

- Britain will continue to supply intelligence to Ukraine, though the more limited capabilities on offer from London and other European countries will make it difficult to replace the flow halted from the US earlier this week.

The Telegraph

- Aviva, Royal London and the National Employment Savings Trust (Nest) are among a group of pension giants that have been accused of blocking Britain's plans to boost defence in the wake of the Ukraine war.

- Catherine Mann, a member of the Monetary Policy Committee, said the Bank of England (BoE) must slash interest rates to shore up the struggling economy rejecting BoE Governor Andrew Bailey's call for "gradual and careful" steps on borrowing costs.

Sky News

- European discounter Pepco Group PCOP.WA said on Thursday it was evaluating all strategic options to separate its struggling 825-store Poundland business in Britain this year, including a potential sale.

- Shareholders in PizzaExpress are preparing to inject tens of millions of pounds into its parent company Wheel Topco to help secure a refinancing of its debt amid tough trading in Britain's casual dining sector.

($1 = 0.7765 pounds)

(Compiled by Bengaluru newsroom)

((globalnewsmonitoring@thomsonreuters.com))

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