British Business – September 6

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

According to a new study, British pension funds have the lowest level of support for their own stock market among developed economies. This will fuel debates about reforming UK retirement pots in order to boost the London Stock Exchange.

BMW plans to launch its first hydrogen powered vehicle in 2028 using the fuel cell technology it developed with Toyota Motor Corp.

The Guardian

ASOS, the British online retailer, announced that it has sold its Topshop brand and Topman brand to a joint venture company with Anders Holch Povlsen's holding company. The deal values the brands at $237 million.

The British government signed the first international artificial intelligence treaty in an effort to prevent the misuse of technology such as the spread of misinformation or the use biased data for making decisions.

The Telegraph

Rob Lucas, CEO of CVC Capital, has warned that the planned tax raid by British Finance Minister Rachel Reeves on wealthy individuals could lead to an exodus from the City.

Paul Nowak, the leader of Britain's Trades Union Movement, has called for a rise in capital gains tax. This will increase pressure on the government to take this step in the Budget.

Sky News

Aurea, a cosmetics entrepreneur Mike Jatania's investment company, is currently in advanced discussions to secure over 30 million pounds of working capital in a new financing from Hilco Capital to purchase The Body Shop.

Yvette cooper, British Home Secretary will be meeting with members of the law enforcement and ministers for a summit to discuss the plan the government has in place to combat small boats in the Channel.

(source: Reuters)