August 24, 2018 / 12:25 AM / 3 months ago

PRESS DIGEST- Financial Times - Aug 24

Aug 24 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

UK competition watchdog launches Asda-Sainsbury's merger probe on.ft.com/2PuUG6V

UK National Lottery operator Camelot fined 1.15 mln stg by regulator on.ft.com/2PyDUUc

Premier Oil keen on North Sea acquisitions on.ft.com/2Pu1TE2

UK business faces storm of red tape under no deal with EU on.ft.com/2PzQz9p

Overview

Britain’s competition regulator Competition and Markets Authority has begun a formal investigation into the proposed merger between Walmart-owned Asda Stores Ltd and the UK’s second biggest food retailer, J Sainsbury Plc, over concerns of less choice, higher prices or worse quality services.

The Gambling Commission, the UK’s gambling regulator, has fined National Lottery operator Camelot Group about 1.15 million pounds ($1.47 million) for five failings that were “sufficiently serious” to incur financial penalties.

Tony Durant, the chief executive officer of Premier Oil Plc , said the company was looking for opportunities to expand its presence in the North Sea as some of the world’s largest energy groups prepare to reduce their presence in the region.

The UK government has told British companies they should consider hiring customs agents to deal with exports to the European Union in case of a no-deal Brexit.

$1 = 0.7841 pounds Compiled by Bengaluru newsroom; Editing by Sandra Maler

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