September 13, 2019 / 12:28 AM / 5 months ago

PRESS DIGEST-British Business - Sept 13

Sept 13 (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

- Woodford Patient Capital Trust Plc, the investment trust run by under-fire money manager Neil Woodford, said it was writing down one of his unquoted investments by 36 million pounds ($44.38 million).

- British American Tobacco Plc said it will cut 2,300 jobs or 4% of its workforce, including senior roles, by Jan, as its new chief executive, Jack Bowles, focuses on the company's vaping business.

The Guardian

- Britain's second-biggest supermarket, J Sainsbury's Plc could sell milk and fizzy drinks in returnable glass bottles as part of a drive to halve the amount of plastic packaging it uses by 2025.

- British Airways said it has begun cancelling flights scheduled for Sept 27, ahead of a second strike by pilots later this month.

Sky News

- Co-Operative Group Ltd boss Steve Murrells said that a no-deal Brexit would leave "gaps on the shelves" of British supermarkets and cause food shortages across the country from November.

- British travel operator Thomas Cook Group Plc is in talks with its lenders to increase the size of a rescue fundraising to 1 billion pounds after the company warned it could face collapse unless it finalises a deal this month.

The Independent

- Babcock International Group Plc has been named the preferred bidder for the 1.3 billion pound contract to build a new fleet of royal navy frigates, in a move that could secure 2,500 jobs and the future of Belfast's historic Harland and Wolff shipyard.

($1 = 0.8111 pounds)

Compiled by Bengaluru newsroom

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