Yahoo Finance PRESS DIGEST-British Business - May 3
May 3 (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
- Coutts, the private bank owned by Britain's NatWest , has been accused of adding to the UK's problems by switching almost 2 billion stg ($2.51 billion) of client money out of the London stock market to invest overseas.
- Hundreds of investment bankers at Goldman Sachs in London are to have their pay packages overhauled after the Wall Street giant told staff that it would scrap caps on bonuses, becoming the first big lender in the UK to announce the change.
The Guardian
- Fossil fuel companies will be allowed to explore for oil and gas under offshore wind-power sites for the first time, the government will announce on Friday, in a move that campaigners said is further proof that ministers are abandoning the climate agenda.
- More than 10,500 of London's black-cab drivers have launched a 250 million stg ($313.80 million) legal case against Uber, accusing it of breaking the capital's taxi booking rules and deliberately misleading authorities to secure a license.
The Telegraph
- London's beleaguered stock market is set for a rare boost as Special Opportunities REIT, a newly established real estate investment trust prepares to launch a 500 million stg ($627.60 million) listing in June.
- The Guardian has launched a redundancy programme for its UK-based editorial staff as the newspaper grapples with a sharp slowdown in advertising and seeks to cut costs.
Sky News
- Business payments comparison site Tuza has secured 4 million stg ($5.02 million) of seed capital from investors including Connect Ventures and Northzone, an early investor in Spotify.
The Independent
- A new treatment for sickle cell disease is set to be rolled out across the UK following a successful, patient-led appeal making it the first sickle cell treatment to be recommended by the National Institute for Health and Care Excellence for routine use on the NHS.
($1 = 0.7967 pounds) (Compiled by Bengaluru newsroom)
