March 22, 2018 / 1:18 AM / a year ago

PRESS DIGEST- British Business - March 22

March 22 (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

- Reckitt Benckiser Group Plc has ended talks with Pfizer Inc over a multibillion-pound acquisition of its consumer healthcare business, leaving the way clear for Glaxosmithkline Plc to complete the deal.

- Melrose Industries Plc has reached an agreement with pension fund trustees to put up to 1 billion pounds ($1.42 billion) in cash into GKN Plc's retirement schemes in a move to overcome objections to its 8 billion pounds hostile bid for the FTSE 100 engineer.

The Guardian

- Higher interest rates from the Bank of England have moved a decisive step closer after the latest figures from the Office for National Statistics showed earnings growing at their fastest rate in more than two years.

- British Parliamentarians have accused PricewaterhouseCoopers tasked with salvaging money from Carillion Plc on behalf of its creditors and pensioners of charging "superhuman" fees.

The Telegraph

- EU leaders will be looking to avoid a full-blown confrontation over trade with the U.S. Trump administration on Thursday, as efforts continue to broker an EU exemption from looming U.S. steel and aluminium tariffs, EU sources said.

- Conviviality Plc is meeting with investors over the coming days as it scrambles to raise funds to pay off its debts.

Sky News

- Bond fund firm Pacific Investment Management Co or PIMCO has emerged as the frontrunner to buy the residential mortgages from UK Asset Resolution.

- British fashion retailer New Look's plan to close 60 stores and cut up to 980 staff as part of a rescue package that has received support from its creditors.

The Independent

- Payday loans are the most "unhealthy" financial product on the market in the UK, according to new research. The Royal Society for Public Health carried out an investigation into the impact debt has on people's lives, in conjunction with the End High Cost Credit Alliance, which was founded by Hollywood actor Michael Sheen. ($1 = 0.7061 pounds) (Compiled by Bengaluru newsroom; Editing by Sandra Maler)

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