August 1, 2019 / 1:12 AM / 4 months ago

PRESS DIGEST- British Business - Aug. 1

Aug 1 (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

- Andrew Bailey, the Financial Conduct Authority's chief executive, defended its decision to authorise Lendy, the failed peer-to-peer lender, saying that the move reduced the risk of "consumer harm".

- Travis Perkins Plc has confirmed its plans to demerge Wickes retail chain as a separate business.

The Guardian

- British Airways has lost a Court of Appeal bid to block pilots from taking strike action in a dispute over pay.

- Ryanair Holdings Plc's Chief Executive Officer Michael O'Leary has told staff to prepare for as many as 900 job cuts as he warned that the airline's expansion plans would be slowed dramatically following the grounding of the Boeing Co's 737 Max planes.

The Telegraph

- UK-based food delivery service Deliveroo has acquired Cultivate, a Scottish software development firm, and plans to treble the size of the company's Edinburgh office.

- British finance minister Sajid Javid is preparing for a no-deal Brexit by setting aside an extra 2.1 billion pounds ($2.55 billion) to make sure the country is ready to leave the European Union with or without a deal by October 31.

Sky News

- Hauliers will face increased fines and civilian traffic officers will be granted new powers in the event of a no-deal Brexit under government plans to try and avoid debilitating customs delays at Dover.

- Majestic Wine Plc has asked investment bankers at Cavendish Corporate Finance to seek final offers for the Lay & Wheeler business by late August as it refocuses on its Naked Wines operations.

The Independent

- Ofgem, the energy regulator for England, Wales and Scotland, has been advised by the Competition and Markets Authority to extend beyond 2020 the cap on energy prices for people who pay for their energy upfront. ($1 = 0.8245 pounds) (Compiled by Bengaluru newsroom Editing by Sonya Hepinstall)

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