April 8 (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.
Vince Cable has been recalled to the Business Select Committee to answer publicly the National Audit Office’s charge that Royal Mail was sold on the cheap.
The Office for National Statistics is to shake up the way it measures the economy, in a move that will instantly turn the UK into a nation of savers. The new accounting standards, which will take effect from September, follow similar changes in the United States, Canada and Australia.
Banks will have access to a Bank of England facility to make it less risky for them to finance exports under a new scheme to boost Britain’s trade announced by George Osborne on Monday.
MIKE ASHLEY SURPRISES CITY BY SELLING SPORTS DIRECT SHARES WORTH 200 MLN STG
Sportswear tycoon Mike Ashley turned the tables on the City last night with a surprise sale of shares worth more than 200 million pounds. The move came days after investors threw out a bonus scheme that would have handed Ashley 72 million pounds of free stock.
The crisis engulfing the Co-operative movement deepened yesterday when the Co-op Bank failed to meet a second deadline for publishing its accounts.
The “London effect” of rising property prices has spread to two-thirds of the country, prompting fresh concerns about the housing market. It said that prices had risen by up to 6 per cent in some areas.
Asda has announced it will create up to 12,000 jobs over five years as part of its latest UK expansion plans. The announcement was made on a visit to the UK by the chief executive of parent company Walmart, Doug McMillon.
Complaints about energy companies have trebled in the first quarter of this year, according to the energy sector’s ombudsman who is calling for “increased transparency.” (Compiled by Aashika Jain in Bangalore; Editing by Lisa Shumaker)