August 2, 2019 / 12:59 AM / 4 months ago

PRESS DIGEST- British Business - Aug 2

Aug 2 (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

- UK prime minister Boris Johnson will nominate a British candidate, expected to be George Osborne, in the race to find a European to run the International Monetary Fund.

- British supermarket retailer Asda Group Ltd will appeal against a court ruling that could result in supermarkets facing an 8 billion pound ($9.71 billion) wage bill in a long-running dispute over equal pay.

The Guardian

- The German utility company RWE AG will close its last UK coal plant, the Aberthaw B power station in south Wales, by the end of March 2020 leaving only four remaining coal plants powering British homes.

The Telegraph

- Barclays Plc has cut 3,000 jobs and is plotting further cost cuts despite giving its best performance in almost a decade.

- Mike Carney, Governor of the Bank of England, said a no-deal Brexit would bring an "instantaneous shock" to the British economy and could sink the pound to a 34-year low.

Sky News

- Malvern Group, owner of the accommodation booking site, has gone into administration after it was unable to secure funding or find a buyer.

- Goals Soccer Centres faces being delisted from the London stock exchange within weeks after discovering that the accounting crisis ‎which caused its shares to be suspended in March dates back a decade.

The Independent

- BMW Ag's Chief Executive Officer Harald Krueger has urged Boris Johnson to "listen to the people" and avoid a no-deal Brexit that would be disastrous for the UK car industry.

$1 = 0.8238 pounds Compiled by Bengaluru newsroom; Editing by Sandra Maler

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