British Business - March 9



March 9 (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

- Greggs GRG.L warned on Tuesday that inflationary pressures will make its sausage rolls more expensive and curtail profits this year, even as the bakery chain toasted record results. Link

- The London Metal Exchange suspended nickel trading on Tuesday as it scrambled to restore order to the market after it was gripped by a short squeeze that caused the price of the metal to spiral. Link

The Guardian

- The UK government said on Tuesday it will phase out the import of Russian oil and oil products by the end of 2022, in the biggest financial crackdown on Moscow since its invasion of Ukraine two weeks ago. Link

- Shell RDSa.L on Tuesday announced plans to withdraw from Russian oil and gas while Unilever ULVR.L said it will stop selling its products in Russia, amid an exodus of big British companies from Russia after its invasion of Ukraine. Link

The Telegraph

- British Chancellor Rishi Sunak on Tuesday urged City fund managers to tell the London-listed companies they invest in, that they must pull out of Russia. Link

- French food group Danone DANO.PA on Tuesday defended its decision to keep doing business in Russia despite the backlash against Western companies that have yet to shun Vladimir Putin's regime. Link

Sky News

- The UK government on Tuesday made it a criminal offence for any Russian aircraft to enter UK airspace, saying any Russian owned or chartered planes can be detained. Link

- Essar Oil UK, which owns the Stanlow refinery in northwest England, has been given "assurances" about the compliance of its parent company with ongoing sanctions affecting Russian lender VTB Bank VTBR.MM . Link

The Independent

- Coca-Cola KO.N , Starbucks SBUX.O , and McDonald's MCD.N on Tuesday, suspended operations in Russia in response to its invasion of Ukraine. Link

(Compiled by Bengaluru newsroom)

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