PRESS DIGEST-British Business – July 28


July 28 (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

– Stefano Pessina, 79, the billionaire behind the American pharmacy chain that owns Boots is to step down as its boss, moving away from the day-to-day running of Walgreens Boots Alliance Inc.

– Astrazeneca Plc has struck a deal for a cancer drug potentially worth up to 4.5 billion pounds ($5.80 billion)with a Japanese peer as it deepens its investment in potential blockbuster oncology medicines.

The Guardian

– Inc is stepping up its competition with British supermarkets by pressing ahead with the wider UK rollout of its online grocery service by the end of the year.

– Alexander Dennis, the British bus manufacturer, is cutting 650 jobs in the latest blow to the UK automotive industry as it reels from the coronavirus pandemic.

The Telegraph

– Travel bosses are pleading for British ministers to exempt top destinations such as Majorca and Ibiza from a new Spanish quarantine as it wreaked havoc across the industry on the first day of the summer holidays.

– Britain’s power network could be removing more carbon than it emits into the atmosphere by 2033 if it embraces renewable energy and technology that can capture and store greenhouse gases, the National Grid has said.

Sky News

– The FTSE-250 phone and broadband supplier TalkTalk Telecom Group Plc rejected a takeover bid by Toscafund, the asset manager, last year that would have valued it at close to double its current share price.

The Independent

– British finance minister Rishi Sunak is considering plans for a new tax on goods sold online as the government looks for ways to raise income and protect the high street amid the COVID-19 pandemic.

($1 = 0.7762 pounds) (Compiled by Bengaluru newsroom)

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