PRESS DIGEST- British Business - April 16
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.
CHEAPER PETROL AND FOOD KEEP INFLATION ON DOWNWARD TREND
Britain is experiencing the longest run of falling inflation for more than two decades after the annual rate of consumer price inflation dropped from 1.7 percent in February to 1.6 percent last month. I
EX-JJB BOSS 'BORROWED 3 MLN STG AFTER HUGE GAMBLING LOSSES'
The former boss of the collapsed retailer JJB Sports had racked up large debts "possibly due to gambling" before he borrowed 3 million pounds from two of his closest rivals, a court heard.
DEBENHAMS BOSS: I DON'T KNOW WHY MIKE ASHLEY BOUGHT STAKE
The chief executive of Debenhams has claimed he does not know why Mike Ashley, the sportswear tycoon, bought a stake in the department store retailer.
DIAGEO IN 1.1-BLN-STG TENDER OFFER FOR UNITED SPIRITS SHARES Diageo, the world's largest spirits maker, could end up with 54.8 percent of leading Indian spirits group.
NOTTINGHAM CIGARETTE FACTORY CLOSURE THREATENS MORE THAN 500 JOBS Closure of Imperial's last factory and distribution hub will put an end to cigarette manufacturing in mainland Britain.
INFLATION FALLS TO 1.6 PCT, THE LOWEST SINCE OCTOBER 2009 News comes a day before labour market figures are expected to confirm that wage growth has finally overtaken inflation.
(Compiled by Karen Rebelo in Bangalore; Editing by Jan Paschal)