Yahoo Finance PRESS DIGEST-British Business - May 9
May 9 (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
- John Wood Group has rejected a 1.4 billion pounds ($1.75 billion) takeover bid from a smaller rival, Sidara, saying it "fundamentally undervalued" the engineering consultancy.
- Oxford Cannabinoid, a drugs company developing cannabis-based medicines, is to delist from the London stock market, blaming turbulent UK markets for exerting "continuous, irrational and regressive pressure" on its share price.
The Guardian
- British Gas owner Centrica's boss Chris O' Shea has called for households to face mandatory smart meter installations weeks after government figures showed that almost 4 million meters are not working.
- James Watt, the co-founder and chief executive of BrewDog , is to step down after 17 years at the helm of the Scottish brewer and bar chain, and will be replaced by the company's chief operating officer, James Arrow.
The Telegraph
- The British online car retailer Cazoo is on the brink of insolvency after failing to secure emergency funding and has filed a notice that it intends to appoint administrators at the High Court.
- A treasure hunting company Argentum Exploration backed by hedge fund billionaire Paul Marshall has lost a legal battle over more than 2,000 silver bars recovered from a World War II shipwreck.
Sky News
- Billionaire Mike Ashley's Frasers Group is closing in on a deal to become the new British partner of struggling fashion chain Ted Baker.
- TSB, the UK banking arm of Spain's Sabadell, is seeking 250 job cuts and 36 branch closures.
The Independent
- British Conservative lawmaker Natalie Elphicke said she had defected to the opposition Labour Party, becoming the second Conservative to do so in the last two weeks. ($1 = 0.8004 pounds) (Compiled by Bengaluru newsroom)
