Yahoo Finance PRESS DIGEST-British Business - March 17
March 17 (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
- UK's North Sea oil company Hurricane Energy, which was close to collapsing two years ago, is being taken over by London-based oil refining firm Prax Exploration & Production in a deal worth up to 249 million pounds ($300.6 million).
- The British government and healthcare unions on Thursday agreed on a pay proposal with a 5% wage increase in the coming year and urged workers to accept it, potentially ending strikes that have disrupted the National Health Service (NHS) for months.
The Guardian
- Britain's John Lewis Partnership warned it would have to cut staff numbers and scrap any bonus this year after the retail group fell into the red, posting a worse-than-expected 234 million pounds ($283 million) full-year loss.
- Britain's Rolls-Royce has received funding from the UK Space Agency to develop a nuclear reactor for a moon base.
The Telegraph
- The public faces a rise in the British Broadcasting Corp licence fee of 13 pounds next year, with the government under pressure to cancel the increase.
- Hutchison-owned Three UK's investment in its network is unsustainable in the long term unless it merges with Vodafone, admitted Robert Finnegan, the mobile network's boss.
Sky News
- TikTok has been banned from UK government phones amid security concerns around the Chinese-owned video app, Cabinet Office minister Oliver Dowden announced.
- Former UK prime minister Boris Johnson has been re-selected to run as the Conservative candidate in Uxbridge and South Ruislip for the next general election.
The Independent
- Virgin Orbit has "paused" its operations to deal with a funding crisis, weeks after its failed UK space launch from Cornwall.
- The Police Service of Northern Ireland has asked for 330 officers from the rest of the UK to assist with a massive security operation during a visit to Northern Ireland by U.S. President Joe Biden. (Compiled by Bengaluru newsroom)
