PRESS DIGEST- British Business – July 12

July 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 – Senior executives of Reckitt Benckiser Group Plc face pressure to return lucrative bonuses after it agreed to pay $1.4 billion to resolve long-running U.S. investigations into the sales and marketing of a treatment for opioid addiction. – Swiss Re AG pulled the planned 3 billion pounds ($3.76 billion) London flotation of its British zombie funds business Reassure on Thursday after institutional investors balked at the asking price. The Guardian – Marks and Spencer Group Plc has ousted its clothing boss after recent criticism of the performance of the retailer’s clothing ranges by M&S’s overall boss, Steve Rowe. – British shale gas company Cuadrilla plans to restart fracking at its Preston New Road site in Lancashire in a last-ditch effort to convince policymakers to relax safety rules. The Telegraph – BAE Systems Plc is positioning to sell its Type 26 frigate to New Zealand, making it the third export customer for the advanced warship. – Norwegian Air Shuttle ASA’s boss Bjorn Kjos is stepping down after 17 years as the troubled airline warned the grounding of Boeing’s 737 Max planes will hit profits. Sky News – Thomas Cook Group Plc is in advanced talks about a rescue deal that will see the company effectively broken up and its tour operating arm taken over by the Chinese firm Fosun Tourism Group. ($1 = 0.7981 pounds) (Compiled by Bengaluru newsroom; Editing by Sandra Maler)

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