December 22, 2017 / 12:48 AM / a year ago

PRESS DIGEST- British Business - Dec 22

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 British arm of Toys R Us Inc IPO-TOYS.N has reached a last-minute agreement with the pensions lifeboat scheme, allowing it to push ahead with a restructuring plan and securing about 2,700 jobs.

- Europe's biggest oil company Royal Dutch Shell Plc is acquiring First Utility. Shell said it plans to grow the business significantly as part of a push into power supply and services. The deal is expected to complete early next year.

The Guardian

- Labour MP John Grogan said Tesco Plc CEO Dave Lewis has "some explaining to do" about why the company did not reveal its inspectors had unearthed "major" process issues at a second 2 Sisters Food Group factory.

- Figures from the Office for National Statistics showed that public sector net borrowing, excluding state-owned banks, fell to 8.7 billion pounds in November, down 200 million pounds on the same month last year.

The Telegraph

- GVC Holdings Plc, the group behind Bwin and Sportingbet, is set to lay out an offer for Ladbrokes Coral Group Plc on Friday, valuing the bookmaker at up to 3.9 billion pounds.

- The owners of DC Thomson, the family-owned publisher whose titles include The Beano, are set to share dividend payouts of more than 20 million pounds after a rise in profits.

Sky News

- There is a 28 percent drop in the number of cars produced for the UK market in November compared to the same month in 2016, Society of Motor Manufacturers and Traders said.

- Apple Inc has admitted slowing down old iPhone devices with low-capacity batteries, saying it is a way of protecting the devices' components.

The Independent

- Immigration minister Brandon Lewis said British passport will be returning to the iconic blue and gold design after it has left the European Union in 2019.

Compiled by Bengaluru newsroom

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