British Business - Oct 21



Oct 21 (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

- Investment management company Schroders plc SDR.L has given the first clues to how its liability driven investment operations fared during the recent gilts market upheaval, reporting a drop of 20.2 billion pounds ($22.66 billion) in assets in the division responsible.

- France-based luxury fashion brand Hermès International SCA HRMS.PA is to follow other luxury goods groups in lifting prices by as much as 10% next year to counter rising costs and currency movements.

The Guardian

- Fashion retailer Zara is to launch a pre-owned service on Nov. 3, to help its UK shoppers resell, repair or donate clothing bought from the Spanish fashion chain in an effort to reduce its environmental impact.

- 340 British farmers have signed a letter to Conservative MPs, criticising plans to scrap environmental subsidies under the environmental land management scheme (Elms), a set of subsidies to replace the European Union's common agricultural policy.

The Telegraph

- UK Households are to be paid around 240 pounds ($269.28) to run washing machines and dishwashers overnight this winter as part of National Grid's efforts to avoid blackouts.

- Ovo Energy Ltd is preparing to gatecrash the takeover of bailed-out rival Bulb in the wake of a fall in gas prices.

Sky News

- Amazon.com Inc AMZN.O is facing a lawsuit of 889 million pounds ($997.46 million) in the UK over claims it abused its dominant position by favouring its own products.

- Online-retailer Naked Wines plc WINEW.L has made around 6% of its workforce redundant after a failed growth strategy forced a restructuring.

The Independent

- Finance giant Lloyds Banking Group plc LLOY.L says it will no longer directly finance fossil fuel projects as part of a "radical reinvention". ($1 = 0.8913 pounds) (Compiled by Bengaluru newsroom)

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