December 5, 2018 / 1:30 AM / in 5 months

PRESS DIGEST - British Business - Dec 5

Dec 5 (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

Businesses expect their output to fall by 7 per cent if Britain crashes out of the European Union, but to rise by almost 3 per cent if it leaves with a deal, according to the Bank of England.

UCB SA, a Belgian drugs company, has committed about 1 billion pounds ($1.27 billion) of investment to Britain as part of plans to build a new research site in Berkshire.

The Guardian

Martin Sorrell has agreed to buy the San Francisco ad tech company MightyHive in a $150 million (117 million pounds) deal, his second acquisition since leaving WPP and setting up the new venture S4 Capital earlier this year.

Govia Thameslink (GTR) will hold on to Britain's biggest rail franchise but must spend 15 million pounds on passenger improvements after its "unacceptable performance" during the botched timetabling roll-out in May.

The Telegraph

The bosses of well-known companies including WPP Plc, AstraZeneca Plc, the AA Plc and Entertainment One have been accused of repeatedly ignoring investor complaints and have been named and shamed on a new register by the trade body for Britain's 8 trillion pounds funds industry, Investment Association (IA).

Brazilian meat producer JBS SA has named Chief Operating Officer Gilberto Tomazoni as its new chief executive, replacing company founder Jose Batista.

Sky News

Toyota's UK manufacturing boss Tony Walker has warned of the "disastrous" impact of a no-deal Brexit which could result in months of "stop-start" production on its 10 million pounds-a-day car making business.

ME Group, a specialist legal technology provider, will spearhead a move to ‎encourage customers who took out standard variable rate (SVR) mortgages to check whether they may be owed money - in some cases running to tens of thousands of pounds.

The Independent

A disorderly no-deal Brexit could force up UK shopping bills by 10 per cent, according to the Bank of England's governor Mark Carney.

Taxpayers are being treated unfairly by HM Revenue & Customs and the government's tax collection arm has become too powerful, according to a new House of Lords report.

$1 = 0.7867 pounds Compiled by Bengaluru newsroom

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