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PRESS DIGEST-British Business - Nov 12

Published 12/11/2019, 12:18 pm
Updated 12/11/2019, 12:21 pm
PRESS DIGEST-British Business - Nov 12
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Nov 12 (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

- Thousands of workers have backed a deal to sell British Steel to Chinese company Ningbo Fubang Jingye Group Co Ltd 600768.SS for £1 billion ($1.28 billion), despite concerns about the buyer's motives and trade unions warning that the government needs to provide support to help to turn around the loss-making business. The chief executive of Ithaca Energy Plc has confirmed that it is planning to float in London after completing a $2 billion deal to quadruple its output. Guardian

- Sirius Minerals Plc SXX.L has revised plans to finance its potash mine after the $5 billion project was thrown into doubt in September when it abandoned a bond issue, blaming a lack of government support and Brexit uncertainty. More than 210,000 workers in Britain are to receive a pay rise after The Living Wage Foundation, the charity behind the living wage, increased the national minimum hourly rate by 30p to £9.30. Telegraph

- J Sainsbury (OTC:JSAIY) Plc SBRY.L has struck a deal to sell its own-label products in Australia through Coles Group COL.AX , one of Australia's biggest supermarkets. News

- Water UK, Britain's water industry's main trade body is to appoint former Centrica Plc CNA.L executive Christine McGourty as its new chief executive. = 0.7815 pounds)

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