September 26, 2019 / 1:33 AM / 10 months ago

PRESS DIGEST- British Business - Sept. 26

Sept 26 - 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

- Britain's planned nuclear revival has suffered a serious blow after the company building the Hinkley Point C plant EDF Energy said it would cost up to 22.5 billion pounds ($27.80 billion), 3 billion pounds more than expected and could yet suffer further cost overruns and is also increasingly likely to be delayed.

- Aston Martin Lagonda has struck the wrong note with investors again as it revealed its latest need to raise up to $250 million on the bond market with very high interest rates of up to 15 per cent including controversial payment-in-kind notes, to put off repayments until a later date.

The Guardian

- Ryanair has written to U.K. pilots asking them to take unpaid leave or transfer to other bases abroad, saying they could otherwise join the 9,000 job losses at Thomas Cook Group Plc.

- Digital bank Monzo Bank Ltd has closed its fee-charging packaged current account to new customers five months after launching it and is refunding some of those who signed up, and may ditch Monzo Plus altogether.

The Telegraph

- J Sainsbury's Plc Chief Executive Mike Coupe has pledged to shut dozens of stores and slash 500 million pounds of costs as he battles to keep his job after a failed merger with Walmart-owned Asda.

- Prudential Plc investors are set to enjoy a 1.3 billion pound windfall after Britain's largest insurer shells out 350 million pounds to split from its U.K. and European savings and insurance business and fund management arm in late October.

Sky News

- The body of a former head of Danske Bank A/S's Estonian branch Aivar Rehe has been found after he went missing amid money laundering allegations.

The Independent

- E-cigarette maker Juul Labs Inc is shutting down broadcast, print and digital advertising in the U.S. and replace Chief Executive Officer Kevin Burns with Altria Group Inc executive K.C. Crosthwaite.

$1 = 0.8093 pounds Compiled by Bengaluru newsroom

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