July 2, 2018 / 11:44 PM / 5 months ago

PRESS DIGEST- British Business - July 3

July 3 (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

Tesco Plc has announced a "long-term strategic alliance" with the French supermarket giant Carrefour to reduce costs as they fight competition from Amazon and discounters. bit.ly/2KHvAyT

The billionaire boss of one of India's largest companies has signalled that London has a diminished role as a magnet for foreign stock market listings after he launched a bid to buy back his natural resources company, Vedanta Resources, arguing it had little need for a British quote. bit.ly/2KGhk9n

The Guardian

Britain's banks face the threat of a huge new PPI bill that could add billions of pounds to the 30 billion pound ($39.42 billion) already paid out in compensation for payment protection insurance, following a court ruling lauded by claims management companies as "hugely significant." bit.ly/2KD3OGY

The BBC is in talks with Channel 4 to mount a 500 million pound bid to take control of UKTV, which broadcasts channels including Dave and Gold. bit.ly/2KIhksC

The Telegraph

Barclays Plc is moving up to 50 investment banking jobs from the UK to Frankfurt as it accelerates preparations for Brexit. bit.ly/2KEDSap

Stobart Group Ltd's board has shown further signs of fracturing ahead of a crunch vote this Friday, as non-executive director John Garbutt threw his backing behind former boss Andrew Tinkler and his plans to oust the company's chairman. bit.ly/2IN9itE

Sky News

British Prime Minister Theresa May has asked the Treasury and Bank of England to draw up analysis of the impact of any Brexit deal struck with the UK. The Commons Treasury select committee has also requested research from the Financial Conduct Authority on the potential impact of the withdrawal agreement and future framework. bit.ly/2IN9sBg

Adam Crozier, the former chief executive of ITV and Royal Mail Group, is being lined up as the next chairman of Asos Plc , the British online fashion sensation. bit.ly/2KEsNXa

The Independent

The data of thousands of Fortnum & Mason customers, including addresses and contact phone numbers, has been accessed after a breach on a form on its website. ind.pn/2IJbt1n

Virgin Atlantic is still helping the Home Office carry out deportations despite announcing it was banning the practice last week. The airline had agreed to deport a man to Nigeria on Saturday – a day after announcing the decision. The only reason he wasn't removed was because the Home Office agreed to consider new representations following legal intervention. ind.pn/2IQKq4o ($1 = 0.7610 pounds) (Compiled by Bengaluru newsroom)

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