Financial Times - Oct 8
Oct 8 (Reuters) -The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.
Headlines
- UK launches regulator in push to speed up approvals for new technology
- Thai Central Group brings Saudi fund PIF into Selfridges
- UK arm of TGI Fridays saved from collapse in private equity buyout
- John Lewis chief to step down to clear way for chair Jason Tarry
- TenneT taps bankers for potential 20 bln euro ($21.96 bln)German power grid IPO
Overview
- Britain is setting up a new Regulatory Innovation Office (RIO) to speed up the approval process for new technologies such as artificial intelligence for use in the healthcare, space, and drone sectors, to boost growth.
- Saudi Arabia's Public Investment Fund will take a 40% stake in the properties and the operating businesses of luxury British store chain Selfridges, while co-owner Central Group will own a 60% stake, the Thai-based group said.
- Private equity firms Breal Capital and Calveton UK have completed the sale of at least 51 TGI Fridays' restaurants as part of the process where another 35 of the group's sites in the country have been closed, leading to 1,012 job losses.
- British retailer the John Lewis Partnership said Chief Executive Nish Kankiwala will revert to a non-executive role by March next year. New chairman Jason Tarry will lead both the executive team and the partnership board.
- Dutch electricity grid operator TenneT has tapped bankers at Goldman Sachs GS.N, Morgan Stanley MS.N, ABN Amro ABNd.AS, and Deutsche Bank DBKGn.DE to plan a potential initial public offering for its German unit.
($1 = 0.9107 euros)
(Compiled by Bengaluru newsroom)
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