British Business - May 20



May 20 (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

- Billions could be wiped off the valuation of Klarna, the "buy now, pay later" fintech business, amid regulatory scrutiny, increased competition and a broader sell-off of technology shares. Link

The Guardian

- Property tycoon Nick Candy is considering making an offer to buy the 1.4 billion pound ($1.75 billion) online shopping group THG PLC THG.L , which recently said it had rejected numerous "unacceptable" takeover approaches that undervalue the company. Link

- The domestic repair and emergency services business HomeServe PLC HSV.L accepted an offer from Canadian investment group Brookfield Asset Management Inc. BAMa.TO on Thursday that values the business at 4.1 billion pounds ($5.11 billion). Link

The Telegraph

- UK Health Secretary Sajid Javid is under pressure to ban work with a blacklisted Chinese genomics firm BGI Group 300676.SZ over concerns it has been used to suppress the country's Uyghur population. Link

- Tesco PLC TSCO.L will ban 'buy-one-get-one-free' offers on unhealthy food and drinks this autumn despite the UK government decision to delay a crackdown on junk food deals for another year. Link

Sky News

- Royal Mail PLC RMG.L has signalled it will raise prices as it takes more aggressive action on costs in the face of soaring inflation. Link

- The audit firm KPMG warned some of Britain's biggest companies that they faced substantial increases in their audit fees just weeks before giving thousands of staff substantial pay rises. Link

The Independent

- Britain's airline, easyJet PLC EZJ.L , lost 3 million pounds ($3.74 million) per day between October 2021 and March 2022. But its boss believes the carrier will be "a winner in the post pandemic recovery of European aviation". Link

($1 = 0.8021 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.