August 29, 2013 / 1:56 AM / 4 years ago

PRESS DIGEST -British Business - Aug 29

Aug 29 (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 Telegraph

TESCO SUFFERS SETBACK AS AUGUST SALES FALL IN THE UK

Tesco Plc, Britain’s biggest retailer, has suffered a setback in the battle to get its domestic business back on track after sales lagged behind its rivals in August.

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JAMMIE DODGER MAKER BURTON‘S UP FOR SALE

Burton’s Biscuit Company, the maker of Jammie Dodgers, Wagon Wheels, and Maryland chocolate chip cookies, is officially up for sale with a price tag of around 350 million pounds.

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The Guardian

BANK OF ENGLAND GOVERNOR REITERATES PLEDGE ON LOW INTEREST RATES

Mark Carney, the governor of the Bank of England, sought to convince a sceptical City that borrowing costs will remain on hold for the next three years, as he warned that Britain needed a prolonged period of low interest rates to make up the ground lost during the recession.

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POLICE CALLED IN OVER ALLEGED FRAUD BY SERCO STAFF

The justice secretary, Chris Grayling, has called in the City of London police to investigate alleged fraud by Serco Group Plc staff working on a 285 million pound contract to transport prisoners to and from courts across London and East Anglia.

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The Times

RYANAIR GOES ON ATTACK AFTER IT LOSES GRIP ON AER LINGUS

British competition watchdog has ordered Ryanair Holdings Plc to reduce its 30 per cent stake in Aer Lingus Group Plc. The airline said on Wednesday that the decision was “bizarre and manifestly wrong” and that it intended to appeal.

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NEW CHIEF ASHLEY ALMANZA TAKES STEPS TO UNSHACKLE G4S

Private security company G4S Plc has raised 350 million pounds from shareholders and sold businesses in Canada and Colombia as its new chief executive tries to steady the ship.

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The Independent

UNION CALLS FOR INQUIRY INTO TIMING OF CITY BONUS ‘SCAM’

One of Britain’s biggest trade unions, Unite, has demanded an investigation into the mass shifting of City bonus payments into April to take advantage of the 5 pence cut in the 50 pence top rate of tax by the Chancellor, George Osborne.

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RETAILERS IN HIRING MOOD AS HIGH STREET GETS TRIPLE BOOST

The UK’s retailers embarked on the biggest hiring spree in more than a decade in August as a feelgood cocktail of good weather, sporting success and a royal baby kept consumers spending, the CBI said on Wednesday.

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