August 7, 2018 / 12:01 AM / 8 months ago

PRESS DIGEST- British Business - Aug 7

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

- Hostile trade relations between the United States and China could deter companies worldwide from investing, HSBC Holdings Plc Chief Executive Officer John Flint has warned.

- IWG Plc, the company behind the Regus office brand, said that it had ended discussions about a potential all-share takeover deal with private equity firms Starwood Capital, Terra Firma and TDR Capital.

The Guardian

- The Insolvency Service is to start interviewing former directors of the collapsed government contractor Carillion plc as it steps up an investigation into one of the biggest corporate failures in recent British history.

- The European Union has launched an attempt to protect European businesses from U.S. President Donald Trump's sanctions against Iran as the U.S. administration voiced its intent to apply maximum pressure on Tehran by vigorously applying its punitive measures.

The Telegraph

- The founders of Fever-Tree are set to toast a 73 million pounds ($94.5 million) payday, after unveiling plans to sell another tranche of shares in the mixer maker.

- The Financial Reporting Council's corporate governance arm should be spun off if it is to effectively regulate company boards in the wake of several high-profile scandals, the Institute of Directors has said.

Sky News

- HSBC Holdings Plc has agreed to pay $765 million to the U.S. Department of Justice to settle a probe into the sale of mortgage-backed securities in the run-up to the financial crisis.

- Private equity firm BC Partners is close to sealing a 700 million pounds takeover of VetPartners in a deal that will mark the fast-growing pet welfare sector's biggest UK deal.

The Independent

- Christmas travellers heading from UK to Asia and Australasia are about to learn of a new budget option. China Eastern Airlines Corp Ltd will this week announce a new route from Gatwick to its hub at Shanghai's Pudong airport, starting on Dec. 7, the Independent has confirmed. ($1 = 0.7727 pounds) (Compiled by Bengaluru newsroom; editing by Diane Craft)

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