August 12, 2019 / 2:13 AM / 7 months ago

PRESS DIGEST- British Business - Aug 12

Aug 12 (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

Gotham City Research issued a statement saying Burford Capital Ltd has enjoyed an "absurdly high valuation" and defended the methods of Muddy Waters and other activist short-sellers, saying they "should be applauded for their work."

Legal & General Group Plc said it had bought the company behind My Future Now for an undisclosed sum and would be making its service available to customers and financial advisers, following the UK government's plans for a state-backed service enabling people to see all their pension entitlements on one web page.

The Guardian

Asda has signed up 300 stores and 18 distribution depots to schemes which can earn the grocery giant extra revenue while helping to balance the electricity grid by matching defrost times of its fridges to blackouts or surges in demand.

The New Economics Foundation said in a new report that driving up the spending power of consumers would give firms a greater incentive to raise their productivity, as they could have greater confidence there would be demand for their products and services.

The Telegraph

Facebook Inc's Instagram, social networking site Facebook and Alphabet Inc-owned Google's YouTube will be fined millions of pounds for showing harmful videos in the UK government's first crackdown on social media, the Telegraph reported.

Russell Group universities are preparing to admit students with grades as low as CDD, by giving them an extra year of tuition to get them up to speed.

Sky News

Ataer Holding, which is poised to enter a formal period of exclusive negotiations to buy British Steel this week, has drawn up a business plan that will involve approximately 900 million pounds ($1.08 billion) of investment over several years.

The UK government will investigate why nearly one million people were left without power for almost an hour after an outage across parts of England and Wales.

The Independent

UK MPs are plotting to rewrite the Commons rulebook to prevent Prime Minister Boris Johnson from forcing through a no-deal Brexit, The Independent reported. ($1 = 0.8310 pounds) (Compiled by Bengaluru newsroom)

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