British Business - January 17
These are the most popular stories in the British business pages. These stories have not been verified and we cannot vouch for the accuracy of these reports.
The Times
BP announced on Thursday that it would cut 5% or more of its global workforce as part of the CEO Murray Auchincloss efforts to reduce costs, and restore investor confidence in BP.
Rio Tinto has held preliminary talks with Glencore about merging their businesses. This would create a commodities titan, valued at around $158 billion.
The Guardian
The UK gave permission to Rocket Factory Augsburg on Thursday to launch its first rocket into orbit from a northern Scottish site, possibly paving the path for regular commercial space flights from European soil.
BT, British Telecoms, has scrapped their plan to convert 60,000 street cabinets into electric vehicle charging stations after installing only one. This is a setback to the UK's target of 300,000.
The Telegraph
Elon Musk’s pressure led to the UK government commissioning new grooming groups inquiries, a Minister has admitted. The minister acknowledged the billionaire owner’s role in expediting investigations.
Sky News
Keir starmer, British prime minister, said during a surprise trip to Ukraine, on Thursday that the UK would play its "full role" in the peacekeeping efforts. He also highlighted the wider impact of the conflict on the UK including the crisis with the cost-of-living.
Heart With Smart (HWS), Pizza Hut’s dine-in partner in the UK was sold to Directional Capital on Thursday after a two month search for investors, following Rachel Reeves’s October budget. Only one restaurant is set to close.
(source: Reuters)
