PRESS DIGEST- British Business - Aug 7

Wed Aug 6, 2014 7:18pm EDT

Aug 7 (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

BOOTS CHAIRMAN MAKES $11 BILLION FROM WALGREEN DEAL

Alliance Boot's Italian boss Stefano Pessina, who built his family's drugs wholesaling business into a European leader, is $11 billion richer today after presiding over the sale of the drug chain to America's Walgreen.

MANUFACTURING SLOWDOWN RAISES DOUBTS OVER RECOVERY

Britain's rebalancing from consumption to manufacturing may be stalling, economists have warned after official factory output numbers fell short of expectations.

The Guardian

HIGH COURT THROWS OUT 'INCREDIBLE' 6 MLN STG BONUS CLAIM BY EX-INVESTEC TRADERS

Two former Investec traders lost a three-year, 6 million pound ($10 million) battle over their bonuses on Wednesday in a case described by a London high court judge as fanciful and "wholly incredible".

The Telegraph

BBC MUST INTRODUCE QUOTAS ON WEB TRAFFIC SHARING, SAYS JOHNSTON PRESS CHIEF

The BBC must scale back its regional news websites and commit to sharing traffic with commercial publishers, according to the chief executive of Johnston Press, the publisher of the Scotsman and the Yorkshire Post.

THAMES WATER CHALLENGED OVER LONDON SUPERSEWER COSTS

Thames Water has only justified half of its initial spending plans for the London supersewer project, regulator Ofwat has warned, demanding the company provide more information to explain proposals for a further 331 million pound outlay.

Sky News

KELLOGG CRUNCHES NUMBERS ON 2 BLN STG PENGUIN DEAL

American food giant Kellogg is examining a 2 billion pound offer for United Biscuits (UB), the owner of McVitie's, Penguin and other famous British biscuit brands. ($1 = 0.5935 British Pounds) (Compiled by Esha Vaish in Bangalore)