British Business - Sept 22



Sept 22 (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

Co-op Food chief executive Jo Whitfield will step down along with Michael Fletcher, the boss of its wholesale business Nisa. Link

French telecoms tycoon Xavier Niel has acquired a stake worth about 750 million pounds ($843.60 million) in Vodafone Group PLC VOD.L , increasing pressure on the company to accelerate its consolidation plans in Europe and to further monetise its towers infrastructure business. Link

The Guardian

Fracking in the UK will be impossible at any meaningful scale and will not help with the energy price crisis, the founder of the country's first fracking company Cuadrilla Resources has warned. Link

JD Sports Fashion PLC JD.L is paying former boss Peter Cowgill 5.5 million pounds ($6.19 million) over three years, on top of a year's salary worth more than 906,000 pounds and a potential bonus worth up to 450,000 pounds, under a deal to prevent him setting up a rival retailer. Link

The Telegraph

The administrator of Neil Woodford’s collapsed income fund Link Fund Solutions faces a 50 million pound ($56.24 million) penalty on top of 306 million pounds in redress payments for its role in the fiasco, UK regulators have announced. Link

Collapsed energy supplier Bulb Energy's co-founder is planning to start a new company after joining venture capital fund Giant VC backed by former British foreign secretary David Miliband. Link

Sky News

Transport for London chief Andy Byford has resigned weeks after securing a new long-term funding deal. Link

The German government has said it will nationalise the country's biggest gas importer, Uniper SE UN01.DE , as it battles massive losses amid Europe's energy crunch. Link

The Independent

British Prime Minister Liz Truss is weighing up whether to take Britain into a new "European political community" being championed by French Prime Minister Emmanuel Macron. Link

($1 = 0.8890 pounds) (Compiled by Bengaluru newsroom)

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