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PRESS DIGEST-British Business - Oct 30

Reuters
·1 min read

Oct 30 (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

- Mike Ashley's Frasers Group has sold the Missguided brand and intellectual property rights to Shein for an undisclosed sum, just over a year after it bought the online fashion retailer.

- The shareholders in Hipgnosis Songs Fund who forced out half the board last week in protest at a botched $440 million deal are exploring ways to get shot of its investment manager without triggering exit fees of up to 24 million pounds ($29.06 million).

The Guardian

- Private equity investor Aurelius Group is in talks to buy the beauty products chain The Body Shop, which has been put up for sale by its Brazilian owner Natura & Co.

- Axel Springer, the German-based media group considered a leading contender in the auction of the Telegraph and Spectator titles, has cast doubt over whether it will submit a bid in the process of finding a new owner for the influential titles.

The Telegraph

- Britain should build a rival to ChatGPT for the UK's security services, the chief executive of a key government artificial intelligence (AI) supplier has urged.

- Rishi Sunak is poised to increase taxpayer spending on artificial intelligence chips and supercomputers to 400 million pounds ($484.32 million) as he strives to boost Britain's technology credentials.

Sky News

- ASOS, the London-listed online fashion retailer, is exploring a sale of the Topshop brand it bought from the wreckage of Sir Philip Green's collapsed retail empire less than three years ago. ($1 = 0.8259 pounds) (Compiled by Bengaluru newsroom)