PRESS DIGEST-British Business – Aug. 19

Aug 19 (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

– Amazon.com Inc is stepping up its assault on the British food market by putting Wm Morrison Supermarkets plc on its main website, giving millions more customers access to free same-day deliveries. https://bit.ly/34bsoYI

– Travelodge has escalated its campaign to dissuade disgruntled landlords from defecting to rival operators by threatening to remove all the carpets, kettles and beds from its hotels. https://bit.ly/3aG4y8S

The Guardian

– Marks and Spencer Group Plc is to cut 7,000 jobs over the next three months in a new round of redundancies as the retailer slashes costs and overhauls the way the business is run during the coronavirus pandemic. https://bit.ly/3iWT8jZ

– Norway’s sovereign wealth fund—the world’s largest—made a loss of 16 billion pounds ($21.20 billion) in the first half of the year and warned that financial markets could face further volatility as the coronavirus pandemic was still out of control. https://bit.ly/3g93qvA

The Telegraph

– Airport operator Stobart Group Ltd is to cut more than 100 jobs at its aviation arm after easyJet closed its bases at Stansted and Southend airports. https://bit.ly/318AoYz

– U.S. pharmaceutical company Merck is to build a new London research hub for 800 people as part of a 1-billion-pound investment in Britain. https://bit.ly/3iNXBFi

Sky News

– Sky News has learnt that the Atom Bank plans to launch a share sale in the autumn that could raise up to 150 million pounds. https://bit.ly/2DWdHyc

– Seventy-two people have tested positive for coronavirus at a dessert factory operated by Bakkavor Group plc in Nottinghamshire. https://bit.ly/3kRcKrv

The Independent

– Seven of the world’s largest oil firms have wiped almost $90 billion off the value of their fossil fuel reserves as the coronavirus pandemic sent demand plunging. https://bit.ly/3g7Rpq3

($1 = 0.7547 pounds) (Compiled by Bengaluru newsroom)

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