February 14, 2017 / 12:34 AM / in 5 months

PRESS DIGEST- British Business - Feb 14

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Feb 14 (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

Banks scent bargains in Co-op chaos

Smaller lenders are circling Co-operative Bank Plc looking to pick up bargains as it emerged that the stricken institution could have to raise almost 1 billion sterling in order to bolster its finances. bit.ly/2ldCwJQ

Ocado may run out of cash to complete overseas licensing deal

Ocado Group Plc could be out of spare cash to execute an international licensing deal, according to an analyst who adds that short-term payouts to the online food retailer's management may be unwarranted. bit.ly/2ldLrep

The Guardian

Unite workers at BMW threaten action over plans to shut UK pension scheme

More than 7,000 BMW workers are threatening industrial action over the German carmaker's plans to shut the final salary pension scheme. bit.ly/2kiC51J

Chemical giant Ineos to build heir to Land Rover Defender

The chemicals group Ineos has insisted its plan to build an off-road vehicle to succeed the Land Rover Defender is not a vanity project driven by its billionaire founder and chairman Jim Ratcliffe. bit.ly/2ldxoFP

The Telegraph

BAE Systems poised to promote Charles Woodburn as chief executive

BAE Systems Plc is poised to confirm Charles Woodburn as its new chief executive in a widely anticipated move that marks a generational shift at the defence giant. bit.ly/2ldAZ6P

Firestone Diamonds smashes expectations with first sale

Fledgling diamond miner Firestone Diamonds Plc has promised more riches are in store after beating expectations for its first-ever sale of gemstones from Lesotho. bit.ly/2ldvFjJ

Sky News

Brexit pound plunge pumps up Sonos speaker prices by up to 25 pct

Music lovers face paying more to listen to their favourite tunes at home after U.S. speaker-maker Sonos said it would hike UK prices by up to 25 percent following the post-referendum slump in the pound. bit.ly/2ldBhur

Union calls off London Underground strike threat after deal

Union officials have called off the threat of further industrial action on the London Underground after agreeing a deal with Transport for London (TfL). bit.ly/2ldvZPt

The Independent

Brexit: Britain must be made worse off after leaving EU, says Austrian chancellor

The European Union must ensure Britain is made worse off when it leaves the trading bloc and any other result would be a "capitulation," the Austrian chancellor said at a press conference on Monday. ind.pn/2kqF1EB

Waitrose rebrands 'British' lamb ready meals after customer outrage over New Zealand meat

Waitrose has rebranded its lamb ready meals after coming under fire from both customers and the farming sector for using misleading labels. ind.pn/2kqBm9S (Compiled by Shalini Nagarajan in Bengaluru)

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