PRESS DIGEST- British Business - July 14
July 14 (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.
INVESTORS SET TO PROTEST OVER CHANGE AT EXPERIAN
The world's largest credit-checking agency Experian is bracing itself for a shareholder rebellion over concerns about pay and corporate governance. (thetim.es/1oxxwXu)
THINK-TANK CALLS FOR CAP TO END 'EXECUTIVE PAY RACKET'
The excessive earnings of an "executive elite" are damaging trust in business and should be tackled through radical action such as a pay cap, according to a report. (thetim.es/1qWkgjR)
FCA CONCERN OVER SOCIAL MEDIA LINKS TO CROWDFUNDING
Britain's Financial Conduct Authority has written to equity crowdfunding websites expressing concerns that messages posted on social media sites do not properly explain the risks to potential investors. (thetim.es/1sbDdAU)
OVO ENERGY ACCUSED IN EARLY PAYMENT ROW
Ovo Energy, one of the fastest-growing independent energy suppliers and a poster child of the industry, has been accused of potentially putting customers' money at risk by demanding that they pay upfront. (thetim.es/1jFx4ur)
CO-OP CHANGES 'RISK TURNING IT INTO A MANAGEMENT-LED OLIGARCHY'
The Co-operative Group risks entrenching power in the hands of its management if it adopts a proposal to change how it selects its directors, the embattled mutual's former group secretary has warned. (bit.ly/1q88G7p)
CITY QUESTIONS CABLE'S PLANS TO TOUGHEN NATIONAL INTEREST TEST
British Business Secretary Vince Cable's plans to make foreign takeovers harder have been branded on "the edge of legality".
Cable made comments over the weekend that, following Pfizer's unsuccessful 69 billion pound ($117.41 billion)bid for AstraZeneca, he wanted to introduce a new law to widen the national-interest test to deals which threatened "critical infrastructure". (bit.ly/1m83U1e)
SAINSBURY'S 592 MLN STG PENSION DEFICIT POSES A 'MATERIAL RISK TO BUSINESS'
The pension liabilities facing J Sainsbury could prevent the supermarket group from competing with rivals in the grocery price war, according to new research. (bit.ly/1wjiDw5)
LIV GARFIELD TO FACE PAY ROW AT SEVERN TRENT
Liv Garfield, chief executive of Severn Trent, is the latest FTSE boss to face a pay row as shareholders have been urged to vote down the water company's remuneration policy. (bit.ly/1q8DPaE)
THERE'S GOING TO BE CONSOLIDATION IN DEFENCE, SAYS BAE SYSTEMS CHIEF
Ian King, chief executive of BAE Systems, envisages a new wave of mergers across Europe's aerospace and defence sector. (bit.ly/1nuS8TZ)
LABOUR STEPS UP PRESSURE ON ROYAL MAIL FEES
Labour is intensifying the pressure on Business Secretary Vince Cable to clarify whether millions of pounds of public money will be paid to bankers who worked on the controversial privatisation of Royal Mail. (bit.ly/U8ox7c)
CHINESE TAKEAWAY FOR 900 MLN STG PIZZAEXPRESS CHAIN
PizzaExpress is to be sold to a Chinese private equity firm Hony Capital for 900 million pounds - a transaction described as the largest in the European restaurant sector in five years. (bit.ly/1zzMAMP) ($1 = 0.5877 British pounds) (Compiled by Richa Naidu; Editing by Sandra Maler)
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