November 22, 2018 / 12:55 AM / 10 months ago

PRESS DIGEST- British Business - Nov 22

Nov 22 (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

- German chancellor Angela Merkel is understood to have warned that she will boycott this weekend's Brexit summit unless a draft political declaration setting out the framework for the future relationship is circulated to European capitals tomorrow.

- Ikea Group is slashing more than 7,000 jobs worldwide, including 350 in the UK, as the Swedish furniture chain adapts to a global retail market that it says is changing at an unprecedented scale and pace.

The Guardian

- British Prime Minister Theresa May is to make an emergency dash to Brussels on Saturday to complete the Brexit negotiations after the German chancellor, Angela Merkel, threatened to pull the plug on the Sunday leader's summit.

- Housebuilding firm Berkeley Group Holdings PLC bosses were accused of engaging in years of bribery with a partner at a major estate agent, according to papers filed in a pair of lawsuits brought against Berkeley by a former finance director in 2014 and 2015.

The Telegraph

- Foreign Secretary Jeremy Hunt has warned Prime Minister Theresa May that her Brexit deal could put Britain into a "Turkey trap" and will be voted down by Parliament unless it is changed, The Telegraph can disclose.

- UK ports and their counterparts in Normandy are attempting to side step EU efforts to prevent bilateral deals in case an overarching Brexit deal is not secured.

Sky News

- The British Financial Conduct Authority (FCA) will outline plans on Thursday for a cap on rent-to-own charges in a move that will herald a fresh clampdown on high-cost credit prices for some of Britain's most vulnerable consumers.

- S4 Capital PLC, Sir Martin Sorrell's newly listed company, will announce on Thursday the appointment of Michel de Rijk, a senior executive from WPP PLC'S media measurement unit, as the chief executive of its operations in Asia-Pacific.

The Independent

- An investigation has been launched into Grant Thornton's audits of cafe chain owner Patisserie's over three years, from 2015 to 2017, after financial irregularities were uncovered at the cafe chain earlier this year.

Compiled by Bengaluru newsroom; Editing by Sandra Maler

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