PRESS DIGEST- British Business - May 16
May 16 (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.
CARPHONE WAREHOUSE AND DIXONS AGREE 3.8 BLN POUND MERGER
Almost 400 million pounds was wiped off the value of Dixons Retail and Carphone Warehouse on Thursday as the proposed merger between the companies was given a rough reception by the City. (link.reuters.com/zed49v)
SCOTTISH INDEPENDENCE VOTE CREATING 'UNCERTAINTY' - LLOYDS
Lloyds Banking Group has warned that the consequences of Scottish independence are largely unknown, saying the bank has no plan for what would happen if the Scottish people vote to secede. (link.reuters.com/bud49v)
ASTRAZENECA AT RISK FROM PFIZER TAX AVOIDANCE PLANS, SAYS COMPANY CHIEF
Pascal Soriot, the chief executive of AstraZeneca, has stepped up his attack on the business model of Pfizer , the US drugs company stalking the UK business, and warned that the British drugs group could be damaged by Pfizer's tax avoidance plans. (link.reuters.com/cud49v)
EUROZONE SETBACK AFTER 'DISMAL' GROWTH FIGURES DENT TALK OF RECOVERY
The eurozone's fragile economic recovery suffered a setback in the first quarter after slower-than-expected growth as GDP data showed France and Italy flatlining and Netherlands suffering shock contraction. (link.reuters.com/dud49v)
MIDDLE MANAGERS SWEPT AWAY BY ASDA'S FOCUS ON CLICK AND COLLECT
Asda is to axe 4,100 jobs in middle management and hire e-commerce specialists as it expands further into online retailing. (link.reuters.com/fud49v)
BANK OF ENGLAND SEES 'NO HOUSING BUBBLE'
Bank of England policymaker Ben Broadbent moved to play down fears of a housing bubble, insisting there were no signs of a dangerous boom in credit. (link.reuters.com/gud49v)
GOOGLE CHIEF ERIC SCHMIDT SAYS 'RIGHT TO BE FORGOTTEN' RULING HAS GOT THE BALANCE 'WRONG'
Google's Executive Chairman, Eric Schmidt, has come out against the recent 'right to be forgotten' ruling as reports claim the company is already receiving request to remove search results. (link.reuters.com/hud49v) (Reporting by Tasim Zahid in Bangalore)