PRESS DIGEST- British Business – Nov 29

Nov 29 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

* Investigators are looking into whether Tesco Bank ignored
a warning about a security flaw in its payment system that
allowed fraudsters to steal millions of pounds from the accounts
of thousands of its customers.

* Companies are to be forced to publish the difference in
pay between their chief executives and average workers, Theresa
May will announce this week.

The Guardian

* Drivers on Southern rail trains have voted overwhelmingly
to strike in a dispute over the operation of train doors, Aslef
union has said.

* The Financial Reporting Council will investigate the
accountancy firm Grant Thornton for signing off on an
arrangement between Sports Direct International Plc,
majority-owned by Mike Ashley, and a delivery company owned by
his brother.

The Telegraph

* Secret Brexit memo suggests Britain will not be offered
single market membership.

* BT Group Plc has appointed a former Ofcom director
as the first chairman of its Openreach business in a bid to make
the network division more independent and avoid being forced to
spin it off.

Sky News

* American aircraft manufacturer Boeing Co has been
receiving subsidies from the U.S. state of Washington that are
illegal under competition law, the World Trade Organisation
(WTO) has ruled.

* London Mayor Sadiq Khan has named a number of top tech
executives to his panel of business advisers underlining the
importance of the sector to the capital’s economy.

The Independent

* The UK should be “prudent” with its plans to raise the
national living wage next year with growth expected to slow in
the wake of the UK vote to leave the European Union, according
to the Organisation for Economic Co-operation and Development.

* An external member of the Bank of England’s Monetary
Policy Committee has become the latest central banker to push
back against the widespread complaint that low interest rates
have unduly penalised savers in recent years.

(Compiled by Kanishka Singh in Bengaluru; Editing by Sandra

Leave a Reply