May 23, 2017 / 11:36 PM / 7 months ago

PRESS DIGEST- British Business - May 24

May 24 (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

Touchstone Innovations was approached by IP Group about a potential combination and held talks after encouragement from top shareholders and because the proposal had “certain merits”.

Royal Bank of Scotland has been accused of incurring "extraordinary" and "unparalleled" costs in its legal fight against shareholders over its 12 billion pound ($15.55 billion) rights issue.

The Guardian

Amazon is to add more than 40 TV channels to its UK streaming service, including ITV and live sport for the first time, upping the stakes against rival Netflix and pay-TV operators such as Sky.

John Lewis and Debenhams are among the high street names backing a new credit union for the retail sector, officially launching today, which aims to help shop workers "avoid the clutches" of payday lenders.

The Telegraph

Glencore Plc has made an "informal" takeover approach for Bunge, a U.S. grain trader with a market value of around 11.6 billion pounds ($15.03 billion), including debt.

Barclays Plc is being sued for 1.6 billion pounds in damages by a U.S. credit card services firm which filed a High Court claim against the British bank for mis-selling a payment protection product at subprime credit card business Monument.

Sky News

Lord Grabiner QC, who has led the board of Taveta Investments since 2002, is expected to step down from the helm of Sir Philip Green's high street group.

Major companies including the Co-op Group, Walgreens Boots Alliance and Barclays Plc have signed up to a pledge to hire 12% more older workers by 2022.

The Independent

Top oil executives have donated more than 390,000 pounds to the Conservative Party since Theresa May became Prime Minister.

$1 = 0.7719 pounds Compiled by Gaurika Juneja in Bengaluru; Editing by Sandra Maler

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