May 24, 2018 / 12:04 AM / 3 months ago

PRESS DIGEST- British Business - May 24

May 24 (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

Aviva Plc has told 50,000 customers that it overcharged them for their premiums and has promised to refund them in a bill that will run to millions of pounds. Aviva has written to holders of index-linked income protection policies, life insurance policies and critical illness policies, confessing that an "IT error" led them to be overcharged for their policies — often for years. (bit.ly/2s9oRWl)

Falling demand for diesel cars and increased investment has dented profits at Jaguar Land Rover. Car sales rose 1.7 percent to 614,309 in the year to the end of March, a slowdown from 16 percent growth the year before, as trading in its key markets in the United Kingdom and Europe went into reverse. (bit.ly/2s9pSxk)

The Guardian

Bovis Homes has suffered a sizeable shareholder revolt over the pay package it awarded its interim chief executive for fighting off two hostile takeover bids and steadying the business after a scandal over badly built homes. (bit.ly/2xdxzZ8)

Dairy Crest has announced plans to invest 85 million pounds ($113.67 million) in the expansion of its cheese factory in Cornwall to meet growing demand for cheddar in markets such as China. (bit.ly/2x6TJwt)

The Telegraph

British banking app Revolut is extending a push into cryptocurrencies, despite the Bitcoin boom subsiding and traditional lenders distancing themselves from the market. (bit.ly/2s78Lwt)

Water utility Severn Trent is preparing to splash out on a 100 million pound investment programme that will include leak-detecting robots, after earning financial rewards from the industry regulator for beating its delivery targets. (bit.ly/2sbWKpA)

Sky News

TalkTalk, the telecoms and broadband group, has struck a 175 million pound deal to offload part of its business-to-business customer base to Daisy Group, a privately owned rival. (bit.ly/2x7bBHd)

The owner of the Gaucho restaurant chain is exploring a sale of the business as part of a review which includes the closure of its poorly performing Cau outlets. (bit.ly/2s5Kg2H) ($1 = 0.7478 pounds) (Compiled by Bengaluru newsroom)

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