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PRESS DIGEST-British Business - Feb. 5

· 02/04/2021 20:28
PRESS DIGEST-British Business - Feb. 5

- 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

- BP BP.L has signed a sustainability agreement with Rosneft as it tries to fend off criticism over its 20% shareholding in the Russian oil company. https://bit.ly/3rrShM7

- Collapses in oil demand and crude prices sent Royal Dutch Shell RDSa.L to a net loss of almost $21.7 billion last year, its first annual loss on record and one of the biggest in British corporate history. https://bit.ly/39LowA1

The Guardian

- The Bank of England expects a rapid rebound of the UK economy later this year as the vaccination programme takes effect, but also announced moves to introduce negative interest rates if the recovery falters. https://bit.ly/2LjCjnZ

- An indefinite extension and radical reform of the government's flagship furlough scheme is urgently needed to save Britain from an unemployment crisis, Britain's shadow chancellor, Anneliese Dodds, will say on Friday. https://bit.ly/3tuoc0w

The Telegraph

- The Bank of England has told lenders they must be ready to introduce negative rates within six months if the UK economy takes a further turn for the worse, in a potential blow to millions of hard-pressed families. https://bit.ly/3tuoHHW

- Los Angeles-based Oaktree, one of the world's biggest investment firms, is backing former Greene King boss Rooney Anand's 500 million pound swoop on Britain's beleaguered pub sector. https://bit.ly/2YIDqAV

Sky News

- Alpinvest, one of the world's largest secondary investors in private equity deals, is taking a stake in British Engineering Services (BES), a specialist testing business which traces its roots back more than 150 years. https://bit.ly/3cHzf0r

- Mandatory hotel quarantine for UK residents and nationals arriving from countries on the "red list" will come into effect on 15 February - more than two weeks after the move was first announced by the prime minister. https://bit.ly/3pMgvQW

The Independent

- The UK economy could return to pre-pandemic levels by early next year as the vaccine rollout leads to an easing of restrictions and people become less fearful of coronavirus, the Bank of England has forecast. https://bit.ly/3oOOgjn

(Compiled by Bengaluru newsroom)