March 29 The following are the top stories in
the Financial Times. Reuters has not verified these stories and
does not vouch for their accuracy.
* Proposal to privatise Channel 4 dropped on.ft.com/2nydxlr
* HS2 under pressure to remove 170 mln pound contract from
* Akzo Nobel investors back call for talks with PPG on.ft.com/2nylp6u
* May ready to compromise as Brexit letter heads for
- UK government dropped plans to privatise Channel 4 but is
increasing pressure to move its operations in part or full from
London. In the coming weeks, a government consultation will be
published which will examine whether Channel 4 should relocate
some or all of its staff.
- Britain’s second high-speed rail link, HS2, is being
pressured by engineering firm Mace to remove contractor CH2M,
which won a 170 million pound contract last month to design the
second phase of the 56 billion pound HS2. Mace, threatening
legal action, said that HS2’s new chief executive, Mark
Thurston, was a former CH2M employee — as was his predecessor,
Roy Hill, who filled the role on a temporary basis.
- In a survey by activist hedge fund Elliott Advisors, 25
percent of Akzo Nobel’s shareholders want Akzo to
engage with U.S. rival PPG in its 22.4 billion euro
pursuit of the company. Akzo's board dismissed two offers in
three weeks, citing factors such as potential job cuts,
antitrust concerns and a poor cultural fit between the two
- British Prime Minister Theresa May signed the historic
letter signalling Britain’s exit from the EU on Tuesday evening.
The official Article 50 exit process will begin on Wednesday
when British ambassador to the EU, Tim Barrow, would present the
letter of withdrawal to European Council President Donald Tusk.
(Compiled by Sangameswaran S in Bengaluru)