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PRESS DIGEST- British Business - Aug 22
August 22, 2017 / 12:17 AM / 4 months ago

PRESS DIGEST- British Business - Aug 22

Aug 22 (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

* The former chief executive of Lloyds Banking Group Plc and one of his top lieutenants are suing the bailed-out lender for hundreds of thousands of pounds in unpaid bonuses in a move that risks sparking public outrage. bit.ly/2g1MPAx

* Nicholas Macpherson, the former Treasury mandarin who oversaw the introduction of quantitative easing eight years ago, has compared money printing to "heroin" for policymakers and said it is "time to move on". bit.ly/2g0erFY

The Guardian

* Ford Motor Co has announced a car and van scrappage scheme allowing customers to trade in and scrap any brand of older vehicle for at least 2,000 pounds ($2,578.80) in a bid to get dirtier vehicles off the roads and boost its sales in UK's flagging car market. bit.ly/2g03eoP

* Activist group Avaaz has hired lawyers and launched the first steps of a judicial review against Ofcom following its report into the 11.7 billion pound bid by Rupert Murdoch's Twenty-first Century Fox for the 61 percent of Sky Plc it does not already own. bit.ly/2fZmzGV

The Telegraph

* French supermajor Total SA has become the second largest North Sea operator at a stroke with a surprise $7.45 billion (5.79 billion pounds) deal swoop on Danish oil and gas firm Maersk Oil. bit.ly/2g094GU

* Britain is to keep all of Europe's business standards after Brexit by applying to remain a full member of Europe's three business standards agencies after March 2019, the head of the UK's official standards agency told the Telegraph. bit.ly/2g0v6cG

Sky News

* Theresa May is facing pressure to transform her approach to shaping Britain's post-Brexit trade links amid scepticism from business leaders about the scale and ambition of a forthcoming trip to Japan. bit.ly/2fZCLHS

* British wealth manager Rathbone Brothers has confirmed that it is in talks over a 2-billion-pound merger with UK-based financial services provider Smith & Williamson, in a bold move that would accelerate the consolidation of the w‎ealth management sector. bit.ly/2g0YejK

The Independent

* A 700-million-pound rescue package for the ailing Co-operative Bank Plc was approved by its members on Monday –- a major milestone for the lender that had been driven to the brink of collapse by rock-bottom interest rates and steep charges. ind.pn/2g0xoIO

* Supermarket operator Tesco has published a list of a broad range of products it is recalling, including some of its Galaxy and Maltesers chocolates, Quorn cocktail sausages and haggis products, citing health and safety concerns. ind.pn/2fZDiJS ($1 = 0.7756 pounds) (Compiled by Bengaluru newsroom; Editing by Sandra Maler)

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