May 17, 2017 / 11:51 PM / 8 months ago

PRESS DIGEST- British Business - May 18

May 18 (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

- The official measure of real wages in UK has fallen for the first time in 30 months even as unemployment dropped to levels last seen in 1975. According to the Office for National Statistics, regular earnings growth, excluding bonuses, declined 0.2 per cent in the three months to March after accounting for inflation, confirming that living standards are declining once again.

- The chief executive of Lloyds Banking Group Plc Antonio Horta Osorio will start work this summer on a new three-year plan for the bank but has not committed to being there to deliver it.

The Guardian

- The Volkswagen AG chief executive Matthias Müller and his predecessor Martin Winterkorn are facing an investigation by German authorities into whether they misled investors by not releasing information about the company's cheating on diesel emissions tests soon enough.

- The equality watchdog in UK has begun formal legal action against buy-to-let mogul Fergus Wilson after he told his letting agent to ban "coloured" tenants because they left curry smells in his properties.

The Telegraph

- UK City watchdog said on Wednesday that Smith & Williamson and LA Business Recovery had been appointed joint administrators to loss-making Strand Capital, with funds of more than 80 million pounds ($103.71 million), owned by Optima Worldwide Group Plc.

- Facebook Inc is expected to receive a fine from EU antitrust regulators on Thursday for the "incorrect or misleading information" it provided to investigators who were probing its 2014 purchase of messaging service WhatsApp.

Sky News

- BP Plc shareholders have voted in favour of cuts to executive awards, proposed by the company last month to head off another rebellion. Last year, around 60 percent of shareholders rejected BP's pay policy after the company reported a record loss amid a sharp slump in oil prices.

- Prime Minister Theresa May will unveil a social care revolution in the Tory manifesto, paid for by axing winter fuel payments for wealthy pensioners. PM will claim social care is "one of the great challenges of our time" and pledge that no-one should have to sell their home to pay for it.

The Independent

-The amount of empty office space in London has jumped over the past 15 months and is likely to rise again despite potential for a post-Brexit business exodus that could drive down rental values, a survey by Deloitte Real Estate showed.

- KitKat-maker Nestle SA has been foiled again, after a UK Court of Appeal ruled that the consumer goods giant cannot trademark the shape of its popular four-fingered chocolate bar.

$1 = 0.7714 pounds Compiled by Bengaluru newsroom

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