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PRESS DIGEST- British Business - May 15
May 15, 2015 / 12:26 AM / 3 years ago

PRESS DIGEST- British Business - May 15

May 15 (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

FROM MARKET STALL TO 100 MILLION POUNDS PAYDAY

In a sign of the rising profitability of cut-price stores that undercut supermarkets, TPG Capital Management LP, the American buyout firm, has agreed to purchase a majority stake in Poundworld. (thetim.es/1E87O38)

TALKTALK ACCUSES BT OF ‘BULLYING’ TACTICS

The chief executive of TalkTalk Telecom Group Plc has accused BT Group Plc's management of trying to bully the new government after her rival threatened to pull the plug on an upgrade to the country's broadband network if it is broken up. (thetim.es/1e4fDBU)

The Guardian

VAROUFAKIS REFUSES ANY BAILOUT PLAN THAT WOULD SEND GREECE INTO ‘DEATH SPIRAL’

Greece's embattled finance minister, Yanis Varoufakis, stepped up his war of words with eurozone policymakers on Thursday, saying he wished his country still had the drachma, and would not sign up to any bailout plan that would send his country into a "death spiral". (bit.ly/1QNOvVV)

The Telegraph

MARIO DRAGHI HITS BACK AT CRITICS OF QE AS GREEK WOES CONTINUE

Mario Draghi has hit back at critics of the European Central Bank's bond-buying programme, insisting that the bank's actions would help households and businesses prepare for higher interest rates in the future. (bit.ly/1d07rlQ)

LLOYDS CHAIRMAN: OSBORNE COULD SELL ENTIRE TAXPAYER STAKE IN 12 MONTHS

Lloyds Banking Group Plc's chairman, Lord Blackwell, has suggested the Government's entire remaining stake in the bank could be sold off within a year. (bit.ly/1A3qqGD)

Sky News

JIM O‘NEILL NAMED AS A TREASURY MINISTER

Jim O'Neill, who chaired Goldman Sachs Asset Management following the financial crisis, will be commercial secretary to the Treasury and known as Lord O'Neill. (bit.ly/1E87ZLy)

BRAIT SNAPS UP NEW LOOK IN 1.9 BLN DEAL

Brait SE, the private equity vehicle of Christo Wiese, will announce on Friday that it has reached agreement with fashion retailer New Look's shareholders to buy the company. (bit.ly/1e4gsKZ) (Compiled by Zara Mascarenhas; Editing by Frances Kerry)

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