April 11 (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.
BRITISH ECONOMY TOO RELIANT ON PEOPLE SPENDING MONEY, WARNS IMF
Britain is still too reliant on consumer spending to drive growth, and further action is needed to foster stronger exports and investment to ensure the economy is “three engines powered”, according to the head of the International Monetary Fund.
The Co-op Bank will on Friday face fresh questions over its future as it announces losses for last year of as much as 1.3 billion pounds.
TESCO ARE EYEING A SLICE OF THE LUCRATIVE TAKEAWAY TRADE IN LONDON
Tesco is understood to be working on a high-street takeway-food chain that would compete with Pret à Manger, Eat and Greggs. Analysts said the supermarket is putting the finishing touches to a new format called “Tesco Express food to go” that would be focused on the large London market.
WH SMITH TO MOVE INTO OPERATING FRANCHISE STORES FOR OTHER RETAILERS
WH Smith is moving into operating franchise stores for other retailers, including Marks & Spencer, as the books-to-paper clips retailer develops a growing portfolio of brands.
BP GIVEN A BLOODY NOSE OVER ATTEMPT TO TREBLE CHIEF‘S PAY
Almost a third of BP’s shareholders refused to back “complacent” management at a stormy annual meeting during which the leadership was accused of turning the oil giant into a “laughing stock” because of spiralling payouts over the Gulf of Mexico disaster.
Former Tesco Plc directors are “dismayed and angry” at the cull of senior talent at the retailer and fear that Philip Clarke, the chief executive, is driving the business “in the wrong direction”.
Housing sales have reached their highest level in six years, fuelling fears that many buyers will be priced out of the market, according to the Royal Institution of Chartered Surveyors (Rics).
The investment affairs division of the Association of British Insurers is to merge with the Investment Management Association to create a focal point for asset managers. (Compiled by Aashika Jain in Bangalore; Editing by Ken Wills)