May 24, 2019 / 1:37 AM / a year ago

PRESS DIGEST- British Business - May 24

May 24 (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

British investor New River Reit has launched a partnership with Pimco's Bravo Strategies III, a private equity-style fund, with the acquisition of four retail parks in Aberdeen, Dundee, Inverness and the Isle of Wight for £60.5 million ($76.6 million), and plans to boost the portfolio to about £500 million of assets over the next few years.

British members of parliament are set to summon private equity Greybull Capital, former owners of British Steel, to answer questions over the collapse of Britain's second largest producer.

The Guardian

Uber Technologies Inc is to launch its electric bike hire scheme in the UK, trialling Jump bikes in London through its app, placing 350 bright red e-bikes in Islington and hoping to expand to other London boroughs in the coming months.

Lloyds Banking Group Plc's Chief Executive Officer Antonio Horta-Osorio has been summoned before members of parliamnet over executive pension payments that have allowed him to pocket an extra 419,000 pounds ($530,600) a year on top of his 1.3 million pounds ($1.65 million) basic salary.

The Telegraph

Deliveroo is on track to create 70,000 jobs in UK restaurant sector by next year, providing some relief to a market racked with uncertainty as a flurry high street chains battle to stay afloat, a report from Capital Economics commissioned by the company claimed.

B&M European Value Retail SA Chief Executive Officer Simon Arora said the company was not talking about mergers and acquisitions, after speculation that the discount chain could launch a reverse takeover of Asda following the collapse of its merger with rival supermarket Sainsbury's.

Sky News

Triton, which bought the travel company Sunweb Group last December, is in talks with Thomas Cook Group Plc about a takeover of its Nordic airline and tour operator that could help the British company improve its fragile financial outlook, Sky News has learnt.

England's National Health Service has made a revised offer to Vertex Pharmaceuticals Inc, the manufacturer of cystic fibrosis drug Orkambi, a treatment which families and campaigners say could transform lives.

The Independent

British MP Nic Dakin warned Britain could be "held to ransom" by other steel producing nations if British Steel's Scunthorpe plant, one of the UK's few remaining major steel plants were to close. ($1 = 0.7900 pounds) (Compiled by Bengaluru newsroom; Editing by Lisa Shumaker)

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