January 16, 2019 / 1:09 AM / 8 months ago

PRESS DIGEST- British Business - Jan 16

Jan 16 (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

- British PM Theresa May was under mounting pressure last night to delay Brexit after she suffered the largest Commons defeat in British political history. The prime minister offered cross-party talks after MPs rejected her deal by a majority of 230, with more than a third of Conservatives rebelling. bit.ly/2Rtm8Xl

- Relx, the FTSE 100 media group, has acquired the St Albans-based Mack Brooks Exhibitions, an arranger of corporate jamborees. Reed Exhibitions, Relx's events division, did not disclose the purchase price, but it is understood to be about £200 million ($257.20 million). bit.ly/2RuxKcA

The Guardian

- British retailer Marks & Spencer revealed on Tuesday the locations of the next 17 branches to close in coming months, putting more than 1,000 jobs at risk. The retailer's decision to retreat from a swathe of UK towns and cities comes as many high streets are struggling with fewer customers and the shift to online shopping. bit.ly/2RtEU0A

- The City watchdog is considering fresh guidelines around the sale of private polling data to hedge funds looking to profit from major political events such as Brexit. FCA says such data may be seen as inside information. bit.ly/2RwYGbo

The Telegraph

- McDonald's Corp has been stripped of its European Union trademark for the Big Mac hamburger in a legal battle with Supermac's, an Irish fast food chain. In a landmark judgment with immediate effect, the European Union Intellectual Property Office said McDonald's has failed to prove "genuine use" of the Big Mac trademark as a burger or restaurant. bit.ly/2Rtps4L

- British Health minister Matt Hancock is pressuring the Chancellor to change pension tax rules for GPs and consultants that are causing an early retirement exodus in the NHS, adding to wait times for appointments and operations. bit.ly/2Rx155U

Sky News

- Volkswagen AG and Ford Motor Co announced on Tuesday a partnership that could see the carmakers develop electric and self-driving cars together in future. The companies said they would co-operate on the development of pick-up trucks and vans initially as the industry moves to innovate and cut costs. bit.ly/2RzcORP

- Jack Wills lenders, led by the high street bank HSBC, have appointed EY, the accountancy firm, amid a broader retail downturn which has cost tens of thousands of jobs. The appointment of advisers comes weeks after Jack Wills turned to investors for new financing. bit.ly/2RrGboV

The Independent

- British business groups have been sounding alarm bells as the Conservative government's Brexit express prepares to smash Britain into the buffers. John Allan, president of the CBI, said crashing out of the EU without a deal on March 29 would do "irreparable harm to the UK economy". ind.pn/2RxhzLy ($1 = 0.7776 pounds) (Compiled by Bengaluru newsroom Editing by Sonya Hepinstall)

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