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PRESS DIGEST- British Business - March 8
March 8, 2017 / 1:32 AM / 9 months ago

PRESS DIGEST- British Business - March 8

March 8 (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 pay package of the chief executive officer of AstraZeneca Plc jumped by almost 70 percent to 13.4 million pounds ($16.36 million) in 2016 as his share awards were triggered under a scheme that is set to be scrapped amid shareholder concerns.

Shawbrook Group Plc has rejected a 825 million pounds private equity offer but left the door open for a higher bid.

The Guardian

The governor of the Bank of England has censured his new deputy governor, Charlotte Hogg, after she admitted breaking bank rules by failing to declare that her brother worked for Barclays Plc.

The west's leading economic thinktank has raised its outlook for the United Kingdom this year, in a boost to Philip Hammond ahead of his budget. But the Organisation for Economic Cooperation and Development said it still expected Britain's economy to shift down a gear compared with last year as rising inflation hits households.

The Telegraph

A joint venture between house builder Barratt Developments Plc and Wall Street giant Morgan Stanley to develop a 275 million pounds residential project on the banks of the Thames is undertaking a review to determine if Barratt staff received bribes to hand out contracts to certain suppliers.

BP Plc is bringing on seven "massive" projects this year in the biggest expansion the company's history but has brought down costs in a wrenching adjustment and is not banking on a recovery in oil prices this decade.

Sky News

The giant financing arm of Ford Motor Co is examining whether to shift part of its operations to Germany in a move that would raise fresh questions about the future of the car-maker's UK workforce.

Philip Hammond is expected to deliver an upbeat assessment of Britain's economic prospects in his first budget as chancellor, but he is not promising giveaways as a result.

The Independent

Prime Minster Theresa May has suffered a setback after the House of Lords approved a plan to give Parliament the final say over Brexit. ($1 = 0.8191 pounds) (Compiled by Ismail Shakil in Bengaluru; Editing by Lisa Shumaker)

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