British Business - April 7



April 7 (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

- UK's Redrow RDW.L and Barratt Developments BDEV.L have warned they will have to spend hundreds of millions of pounds more to fix cladding on tower blocks they have built after becoming the latest developers to sign up to the government's building safety pledge. Link

- The British unit of Russia's VTB Capital will be placed in administration after it was crippled by western sanctions due to the invasion of Ukraine. Link

The Guardian

- UK Prime Minister Boris Johnson is to put nuclear energy at the heart of the country's new energy strategy, but ministers have refused to set targets for onshore wind and vowed to continue the exploitation of North Sea oil and gas. Link

- UK Health Secretary Sajid Javid said the increase in national insurance payments for millions of people already struggling to deal with the cost of living crisis is both right and fair. Link

The Telegraph

- UK Prime Minister Boris Johnson is poised to nationalise a key part of the country's electricity network, stripping National Grid NG.L of its role in running the electricity system more than 30 years after the industry was privatised. Link

- The European Union Finance Commissioner Chief said that EU should cut its heavy reliance on London clearing houses in the same way the bloc is ending its dependency on Russian energy. Link

Sky News

- The online gambling group 888 Holdings 888.L will launch a cash call to fund its takeover of William Hill's non-U.S. operations, marking a rare equity raise in the London market since Russia's invasion of Ukraine. Link

- The recovery of air travel is "gathering steam" but it could be held back by rising oil prices and unprepared airlines and airports, the International Air Transport Association has warned. Link

(Compiled by Bengaluru newsroom)

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