British Business - May 6



May 6 (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

- The OPEC cartel of big oil producers offered no respite to consumers struggling with soaring energy prices on Thursday when it stuck to its plan for only a modest increase in output. Link

- KPMG has fired the latest shot in the professional services sector's battle for talent by giving all its rank-and-file staff in the UK a pay rise of at least 2,000 pounds ($2,472.00). Link

The Guardian

- The British government said on Thursday it had sanctioned steel manufacturing and mining company Evraz EVRE.L , whose biggest shareholder is sanctioned billionaire Roman Abramovich, in response to Russia's invasion of Ukraine. Link

- Channel 4, the publicly owned British broadcaster that the government wants to sell, published its alternative plan to privatisation on Thursday, including setting up a joint venture that would own the rights to commercialise shows globally. Link

The Telegraph

- Mark Carney, the former Bank of England governor, has claimed that the looming climate crisis will "dwarf current hardships" triggered by spiralling inflation despite prices surging at the fastest rate in decades. Link

- UK Digital Secretary Nadine Dorries is to press ahead with the creation of a new digital competition watchdog that will have the power to levy multi-billion pound fines on U.S. tech giants which abuse their dominance of the internet. Link

Sky News

- Struggling British convenience shop chain McColl's MCLSM.L said on Thursday it was increasingly likely that the group would be placed into administration, a move that could put thousands of jobs at peril. Link

- Elon Musk has secured $7 billion from new investors for his $44 billion takeover of Twitter TWTR.N . Link

The Independent

- Inflation will spiral to more than 10% by October – the highest rate in 40 years – as Britain risks being pushed into recession with millions facing higher bills, the Bank of England said. Link

($1 = 0.8091 pounds) (Compiled by Bengaluru newsroom)

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