British Business - July 16



July 16 (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

- Revolut has hit a record-breaking valuation of $33 billion after an $800 million fundraising that put the digital lender's worth at six times higher than last year. Link

- GlaxoSmithKline Plc GSK.L is seeking a development partner to help transform land at its existing 92-acre research and development site in Stevenage into one of Europe's largest clusters for life science companies. Link

The Guardian

- Tesco Plc TSCO.L , Asda Group Ltd, WM Morrison Supermarkets P L C MRW.L , Marks and Spencer Group Plc MKS.L , Aldi, Primark and John Lewis have joined Waterstones and J Sainsbury Plc SBRY.L in asking customers and staff to continue wearing face masks in shops in England beyond July 19 despite an easing of COVID-19 safety restrictions. Link

The Telegraph

- Drugmakers Auden McKenzie and Accord UK have been fined more than 260 million pounds ($359.53 million) for colluding to overcharge the NHS for hydrocortisone tablets in one of the most serious market abuses uncovered by the regulator. Link

Sky News

- Car maker Rolls-Royce said it was 'approaching a critical point' due to workers having to self-isolate and may have to halve production if the trend continues as the company said it was 'extremely concerned' at the number of staff at its manufacturing site in Goodwood, West Sussex, being ordered to stay at home because of NHS Test and Trace app alerts. Link

($1 = 0.7232 pounds) (Compiled by Bengaluru newsroom)

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

We are using cookies to give you the best experience on our website. Read more or change your cookie settings.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.