PRESS DIGEST - British business - April 20
AQUASCUTUM CUTS JOBS AT PLANT
Aquascutum, the luxury fashion retailer which this week fell into administration, is to shut its manufacturing plant in England with the loss of 115 jobs.
GLAXO HAS BID REJECTED FOR U.S. BIOTECH GROUP
GlaxoSmithKline is facing a battle in its takeover bid of U.S. biotechnology group Human Genome Sciences after a $2.6 billion bid was rejected on Thursday.
BARCLAYS REINS IN DIAMOND'S DEAL AMID INVESTOR REBELLION
Barclays has attempted to head off a shareholder revolt over the 17.7 million pound ($28.43 million) package awarded to its chief executive, Bob Diamond, by offering to amend the terms of his annual bonus.
AVIVA'S EUROPE BOSSES LOSE JOBS IN SHAKE UP
Aviva has announced the departure of three leading executives in a boardroom overhaul dismissed as "window dressing" by institutional shareholders.
IMF CHIEF MAKES LAST DITCH STRUGGLE TO RAISE FUNDS
Christine Lagarde is involved in a struggle to raise funds for the International Monetary Fund amid fears that a fresh eruption of the global financial crisis will leave the organisation short of emergency cash.
TESCO PLAN STORE SHAKE-UP AND ONLINE EFFORT
Tesco put a radical overhaul of it UK stores and dominating online shopping at the heart of a 1 billion pound ($1.61 billion) fight to turn around its weak domestic performance on Thursday.