(Bloomberg) -- Here’s the key business news from London-listed companies this morning.

United Utilities Group Plc: The utilities company has agreed to sell its renewable energy business for about £100 million enterprise value.

  • The sale to  SDCL Energy Efficiency Income Trust Plc will generate cash that can be reinvested into further reaching its net zero goals

Hostelworld Group Plc: The website for booking cheap accommodation’s net bookings levels in June has reach 80% of pre-pandemic levels, with sales figures above that level due to higher average booking values.

  • People in the US and Canada in particular have shown a desire to make the trip across to Europe, with those long haul bookings exceeding pre-pandemic levels

Balfour Beatty Plc: The international infrastructure group will sell its stake in student accommodation at Purdue University in Indiana, generating a profit of $47.2 million for the company.

Outside The City

Tories are seeking to narrow down the field of contenders to be next prime minister by requiring candidates to have the initial support of 20 Conservative MPs. Nominations will open and close today, with the first ballot of MPs to be held on Wednesday. The party’s new leader will be announced on Sept. 5.

Here’s what the prime minister hopefuls have been promising so far. 

In Case You Missed It 

London’s airports are teeming with more passengers every week even as airlines cancel thousands of flights, according to Bloomberg’s Pret Index. Sales at Pret A Manger Ltd stores in Heathrow, Gatwick, City and Luton terminals are now more than 40% higher than they were before the pandemic.

And Citigroup Inc. has suspended one of the UK’s most high-profile investment bankers, Jan Skarbek, pending an investigation into allegations of misconduct, people familiar with the matter told Bloomberg. 

Looking Ahead

Fresh GDP numbers released tomorrow are expected to show the UK economy stagnated in May, the month when increases in National Insurance contributions started to unfurl.

Pub chain JD Wetherspoon Plc is expected to report a trading update tomorrow, as the hospitality industry faces labour shortages and rising prices. Wetherspoon said in May that it expects to break even this year.

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