March 14, 2018 / 12:34 AM / 10 months ago

PRESS DIGEST- British Business - March 14

March 14 (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

- Rio Tinto Plc's troubles in Mongolia worsened last night, after the mining company's subsidiary Turquoise Hill Resources received a request for information from the country's anti-corruption agency.

- Britain's Financial Ombudsman Service came under fresh pressure last night as parliamentarians demanded to know how many flawed judgements it has allegedly delivered and lenders called for an inquiry into its work.

The Guardian

- Member of Parliaments have accused UK government of a "deeply regrettable" failure to put in place strong guarantees that the UK's green investment bank will continue to support renewable energy after its privatisation.

- UK will save no money from leaving the European Union over the next five years and could be paying its Brexit divorce bill until at least 2064, according to the government's independent budget watchdog the Office for Budget Responsibility.

The Telegraph

- The Institute of Directors has named easyJet Plc's former finance director Chris Walton as its interim chairman, to replace Lady Barbara Judge who resigned late last week amid allegations of racism and bullying.

- Sandwich maker Greencore Group Plc has lost almost a quarter of its value after a catalogue of problems in its U.S. business forced it to issue a profit warning.

Sky News

- The listed pool betting group Sportech Plc will unveil a profit warning on Wednesday morning, even as it continues talks with potential buyers of the company.

- The chief executive of Crossrail, Andrew Wolstenholme, is to join BAE Systems Plc later this year. Wolstenholme will oversee the maritime and land divisions at the UK's biggest defence contractor.

The Independent

- Volkswagen AG chief executive Matthias Mueller's pay jumped 40 percent last year to more than 10 million euros ($12.40 million) as the carmaker's profits soared despite continued fallout from the emissions cheating scandal.

- Britain's economy will grow faster this year than previously forecast and the deficit will be some 5 billion pounds ($6.99 billion) lower, the Chancellor, Philip Hammond, said on Tuesday as he delivered his first Spring Statement. ($1 = 0.8068 euros) ($1 = 0.7156 pounds) (Compiled by Bengaluru newsroom)

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