September 1, 2015 / 12:29 AM / in 2 years

PRESS DIGEST- British Business - Sept 1

Sept 1 (Reuters) - 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

Retail investors in the embattled Co-operative Bank will have a rare opportunity to buy and sell shares through a private share auction next week. Hundreds of private investors who are estimated to own between 5 percent and 15 percent and who remain shareholders after the 1.5 billion pounds ($2.30 billion)restructuring at the end of 2013 are being invited to take part in the auction by Asset Match.(thetim.es/1N5MzZD)

The 6.5 million customers of Royal Bank of Scotland, NatWest and Ulster Bank were faced with more banking troubles yesterday after yet another IT glitch hit the group. For an hour in the morning customers found that they were either unable to log on to online banking, or even if they could, they were not able to make payments or transfer any money to other accounts. (thetim.es/1N5MANf)

The Guardian

Pfizer, one of the world's largest pharmaceutical groups, has said it will resist demands from investors and transparency campaigners that it disclose results from all historical drug trials. (bit.ly/1N5Mjdk)

Employers who fail to pay the new "national living wage" face increased fines under a crackdown on non-compliance announced by British Prime Minister David Cameron. Cameron said the new pay policy would only work if it were "properly enforced" and that the government would be funding a new unit to crack down on firms thought to be flouting the law. (bit.ly/1N5MncX)

The Telegraph

The French economy minister has called for the appointment of a powerful new "Euro Commissioner" to head a single economic government for the eurozone. Emmanuel Macron said it was time to "re-found the EU" and called for full fiscal union. (bit.ly/1N5MHbA)

Sky News

OneWeb, the satellite venture whose investors include Virgin Group and Coca-Cola is preparing to raise up to $2.5 billion. OneWeb is to hold an investment bank beauty parade ahead of fundraising planned for next year. (bit.ly/1N5LWPM)

A "supergiant" natural gas field which could supply Egypt for "decades" has been discovered off Egypt's coast. Italian oil company ENI said the find was the largest in the Mediterranean Sea and could yet become one of the world's most significant, possibly holding up to 30 trillion cubic feet of gas. (bit.ly/1N5MrcG) ($1 = 0.6510 pounds) (Compiled by Mansi Goenka in Bengaluru; Editing by Alan Crosby)

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