Yahoo Finance PRESS DIGEST-British Business - May 8
May 8 (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
- Social media apps including TikTok and Instagram will be told to "tame aggressive algorithms" pushing harmful content to children, under new rules as a part of a plan from UK's communications regulator Ofcom.
- BP CEO Murray Auchincloss said that switching the energy giant's listing from London to New York is "not on the agenda", despite the FTSE 100 group's valuation trailing that of American peers.
The Guardian
- AstraZeneca said it had initiated the worldwide withdrawal of its COVID-19 vaccine due to a "surplus of available updated vaccines" since the pandemic.
- Everton shareholders have urged the club's owner, Farhad Moshiri, and the Premier League to end the "farce" of a proposed takeover by 777 Partners after the troubled company was accused of fraud worth hundreds of millions of dollars.
The Telegraph
- Heathrow, Gatwick and Manchester airports were hit by the nationwide failure of the e-gates, leaving passengers facing queues of two hours as they returned from extended bank holiday breaks.
- International Airlines Group is aiming to tighten its grip on transatlantic travel with a bid for TAP Air Portugal in a deal that would boost access to Brazil's market.
Sky News
- Britain's carpet retailer Carpetright is axing more than 25% of its head office staff, or roughly 70 roles, as it grapples with a protracted downturn in trading.
- Britain's second-largest domestic energy supplier Octopus Energy is now close to attaining $10 billion valuation after two shareholders increased their stakes in the company, valuing it at $9 billion.
The Independent
- UK's Defence Minister Grant Shapps has apologised to the armed forces hit by the Ministry of Defence cyberattack as he confirmed up to 272,000 personnel have been affected.
- Opposition Labour Party's foreign affairs spokesman David Lammy moved Labour closer to calling for an outright ban on arms sales to Israel as the row over the Middle East crisis exploded in the House of Commons.
($1 = 0.8011 pounds) (Compiled by Bengaluru newsroom)
