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PRESS DIGEST- British Business - Dec 14
December 14, 2016 / 1:29 AM / a year ago

PRESS DIGEST- British Business - Dec 14

Dec 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

* BP Plc is struggling to maintain safety standards at some of its biggest manufacturing sites, according to a leaked internal report that has exposed serious flaws in its monitoring of operations at refineries and chemicals plants.

* Britain's attempt to resist tougher sanctions against cheap Chinese imports was finally overcome yesterday after the European Council agreed to boost its trade defences.

The Guardian

* Rupert Murdoch's Twenty-First Century Fox Inc is not expected to offer Sky Plc as a regulatory pawn to secure an 11.2 billion pound ($14.17 billion) takeover of Britain's largest pay-TV broadcaster.

* Tens of thousands of banking jobs could be lost to continental Europe from next year if ministers do not agree a transitional deal on single market access with the European Union, a Lords report on financial services after Brexit is expected to warn.

The Telegraph

* Taxpayers are footing a 50 million pound ($63.28 million) bill for the biggest series of rail strikes in a generation, while the company Southern Rail line in charge of the train line stands to save money, it has emerged.

* Details of future infrastructure, public sector and defence projects such as the HS2 rail link, Hinkley Point nuclear power station and the new Dreadnought Trident missile submarines are being released by the government in an attempt to boost Britain's steel industry.

Sky News

* The financial spread-betting company CMC Markets Plc is to consider relocating chunks of its business away from the United Kingdom if the Financial Conduct Authority presses ahead with plans to curb bets placed by retail customers.

* The Consumer Price Index measure of inflation rose to a higher-than-expected 1.2 percent in November, according to Britain's Office for National Statistics. Inflation was up from 0.9 percent in October and the highest since October 2014.

The Independent

* The British government has now lost around 500 million pounds ($632.80 million) on Lloyds Banking Group Plc after selling more shares for less than taxpayers paid to save the lender from meltdown, according to the Office for Budget Responsibility.

* Union members voted overwhelmingly for the delivery drivers' three-day Christmas walkout after they said Argos Resources Ltd had failed to pay holiday back pay for two years, amounting to 700 pounds ($885.92) per worker on average.

$1 = 0.7901 pounds Compiled by Bhanu Pratap in Bengaluru; Editing by Sandra Maler and Lisa Shumaker

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