Yahoo Finance PRESS DIGEST- British Business - Feb 12
Feb 12 - 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
Shire Plc has called time on its $50 billion acquisition spree as it attempts to digest its biggest deal yet. The FTSE 100 pharmaceuticals group expects its $32 billion acquisition of Baxalta Inc to close this year and said it would concentrate on integrating the American business before embarking on any other deals. (http://thetim.es/1PGqCgI)
Sweden added to the turmoil in financial markets yesterday by cutting its main interest rate deeper into negative territory in an effort to boost the economy and stave off the threat of deflation. (http://thetim.es/1PGqH46)
The Guardian
The Dublin-based banana company Fyffes Plc has been accused by the GMB trade union of having "no respect" for workers' rights, amid allegations that staff on Central American fruit plantations are being serially mistreated. (http://bit.ly/1PGqUnK)
Justin King, the former boss of J Sainsbury Plc, has waded into the row over the tax paid by multinationals such as Amazon and eBay, saying it was unfair that traditional retailers must pay huge rates bills for services such as roads and waste collection, while their online rivals paid little but received the same benefits. (http://bit.ly/1PGramO)
The Telegraph
Staff at Guardian Media Group are bracing for further job cuts as the company looks to slash costs by 20 percent in the face of widening losses. (http://bit.ly/1PGrgef)
SuperGroup Plc founder Julian Dunkerton is selling a 4.9 percent stake worth 53 million pounds ($76.69 million) in his first share sale since the fashion retailer listed on the stock market six years ago. It is understood that Dunkerton is selling 4 million shares to fund a recent divorce settlement. (http://bit.ly/1PGrli3)
Sky News
PricewaterhouseCoopers has become one of the UK's biggest private sector employers so far to engage staff on the merits of Britain's membership in the European Union. Sky News understands that the 'big four' accountancy firm last week held an event for more than 100 UK partners to discuss the implications of Brexit. (http://bit.ly/1PGrqlY)
The Independent
Matt Brittin, president of Google's European, Middle Eastern and African arm, told the Public Accounts Committee that he was not sure what his basic salary was. The Public Accounts Committee is currently conducting an inquiry into a tax settlement announced between Google and HMRC. (http://ind.pn/1PGrsdy)
J Sainsbury Plc has said it will be the first UK retailer to call time on multi-buy and buy-one-get-one-free promotions. The supermarket operator said that by August, customers will no longer see the deals across brand products and its own-brand soft drinks, confectionary, biscuits and crisps. (http://ind.pn/1PGrxxG) ($1 = 0.6911 pounds) (Compiled by Ismail Shakil in Bengaluru)
