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Wednesday newspaper round-up: Travel list, Morrisons, Ultra Electronics, Greensill

By Michele Maatouk

Date: Wednesday 28 Jul 2021

Wednesday newspaper round-up: Travel list, Morrisons, Ultra Electronics, Greensill

(Sharecast News) - Plans to significantly open up international travel are expected to be announced on Wednesday, with UK ministers poised to let people who have been fully vaccinated in the US and EU avoid quarantine if arriving from amber list countries. The move would benefit millions of people by finally letting them be reunited with family and friends based in the UK, as well as businesses in the aviation and tourism sectors that have been hit hard by the pandemic. - Guardian

Boris Johnson may block a Chinese-owned company from purchasing the UK's largest producer of semiconductors, a senior government adviser has suggested, as they warned Beijing was on the brink of initiating a new "cold war". Tony Abbott, the former prime minister of Australia recruited by Johnson to advise on post-Brexit trade, said he was heartened by a review being launched into the takeover of Welsh microchip manufacturer Newport Wafer Fab by Nexperia and suggested it meant the process could be paused. - Guardian

The biggest shareholder in Morrisons has come out against a £6.3bn takeover bid for the supermarket chain in an embarrassing setback for the grocer's board. Silchester, which owns a 15.4pc stake in Morrisons, said it is not inclined to back the bid from Fortress, a US private equity firm, and described it as "disadvantageous" for existing investors. - Telegraph

Separate UK and US boards could be formed to protect Britain's national security as a condition of Ultra Electronics' potential takeover by Cobham, which is owned by US private equity firm Advent. Senior industry sources familiar with Ultra's secret operations said creating the two management structures would ease government concerns about the £2.6bn deal. - Telegraph

The collapse of Greensill, the supply chain finance firm, has resulted in a £12 million hit for Iceland, the frozen foods supermarket group. The disclosure in Iceland's financial accounts reveals that the company's cash balances had fallen from £140.3 million to £125.5 million after the loss of its supply chain facility provided by Greensill Capital. The retailer declined to comment but it is understood that Iceland had a "supplier portal" that allows its food and drink suppliers to accelerate the payment of their bills, which Greensill facilitated. - The Times


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