January 31, 2019 / 2:04 AM / 8 months ago

PRESS DIGEST- British Business - Jan 31

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

Santander UK has earmarked 58 million pounds to compensate mistreated credit card customers in what appears to be a further conduct embarrassment for the Spanish-owned bank. bit.ly/2CTy3Dp

Car production in the UK suffered its worst year-on-year drop since the global financial crisis after a 22 per cent fall in December capped a challenging 12 months for the industry. bit.ly/2CUZtZE

The Guardian

Grant Thornton, which is under investigation for its audits of Patisserie Valerie, the chain that collapsed into administration earlier this month, has argued that it is not the role of accountants to uncover fraud. bit.ly/2CRC3Ey

An anonymous Cayman Islands-registered company has taken a 20 percent stake in the parent company of George Osborne's Evening Standard, with the newspaper refusing to reveal the identity of its new financial backer. bit.ly/2CUrK2t

The Telegraph

Octopus Energy revealed a 5 million pound loss and admitted that it was still "several years away" from turning a profit despite increasing its customer base to about half a million in under three years. bit.ly/2CV101Q

Britain's biggest high street bank Lloyds said it is shedding another 490 jobs as it pushes ahead with a 3 billion pound scheme to offer more digital services. bit.ly/2CXzUY3

Sky News

Advertising group WPP is selling its 49 percent stake in Richard Attias & Associates to the firm's eponymous founder for tens of millions of pounds. bit.ly/2RWb6Ki

Barclays Plc is preparing to pull the trigger on no-deal Brexit plans to shift assets worth 166 billion pounds ($217.76 billion) to its Irish division as it "cannot wait any longer" amid continuing political uncertainty. bit.ly/2CSedbO

The Independent

British MPs condemned a major group of UK fashion retailers for failing to ensure high environmental standards or protect its workers, calling the nation's current business model for fashion unsustainable. ind.pn/2CXBAAP ($1 = 0.7623 pounds) (Compiled by Bengaluru newsroom)

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