PRESS DIGEST- British Business – April 5

April 5 (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

AO World Plc said it incurred 2.5 million pounds($3.27 million) of extra costs linked to restructuring part of its management team as well as a loss-making contract in its German business, in addition to costs that followed its recent acquisition of Mobile Phones Direct.

Unicredit SpA, the Italian bank, has emerged as a possible rival bidder for Commerzbank AG amid signs that a merger with Deutsche Bank, its German rival, faces mounting difficulties.

The Guardian

The UK government will legislate for a new statutory duty of care, to be policed by an independent regulator which will have the power to hold individual social media executives personally liable for harmful content distributed on their platforms, under plans expected to be published on Monday.

The UK’s Information Commissioner’s Office will use its legal powers to obtain information from Facebook Inc about a secretive network of pro-Brexit advertising campaigns on the social network.

The Telegraph

JD Sports Fashion Plc has bought Liam Gallagher’s Pretty Green brand as well as its wholesale operations and flagship store in Manchester, saving 67 jobs.

ITV Plc has launched a belated attempt to meet demand for advertising tailored to consumer interests, with an update to the systems behind its catch-up service.

Sky News

The executive quartet who run Melrose Industries Plc saw their pay packages slashed last year in the wake of the company’s takeover of GKN, one of the most venerable names in British manufacturing.

The UK government is drawing up plans for dealing with a massive increase in the number of lorries needing official paperwork in the wake of a potential no-deal Brexit.

The Independent

Brexit has cost the British economy 66 billion pounds in just under three years, or around 1,000 pounds for every person in the country, a report has found. ($1 = 0.7652 pounds) (Compiled by Bengaluru newsroom; Editing by Sandra Maler)


Author: Prakash Poojary

Business Analyst

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