May 25, 2018 / 12:11 AM / in a month

PRESS DIGEST- British Business - May 25

May 25 (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

Ryanair Holdings Plc said on Thursday it had never made an approach for Norwegian Air and does not intend to, despite comments from the chief executive of Norwegian Air that it had been approached by the Irish airline. (bit.ly/2kptRCJ)

Capital & Counties Properties Plc is considering whether to break up its business, a decision that could result in its Covent Garden estate being listed as a separate entity. The company said that it was mulling a demerger of its prime 2.5 billion pounds ($3.34 billion) shopping district from its large mixed-use development site in Earls Court. (bit.ly/2knR9sr)

The Guardian

The European Union has settled a seven-year dispute with Gazprom after the Russian state-controlled energy firm agreed to change its operations in central and eastern Europe. (bit.ly/2klwyF8)

Deutsche Bank is to cut more than 7,000 jobs globally, with its investment banking business in London likely to be hit. Deutsche Bank said one in four equities sales and trading jobs, which are mainly located in New York and London, would be axed. (bit.ly/2kpwfJH)

The Telegraph

Deutsche Bank Chairman Paul Achleitner survived an attempt by angry shareholders to remove him from the board, seeing off a fresh crisis as the German lender announced thousands of job cuts. (bit.ly/2kpsCUa)

The British government has piled more pressure on Heathrow to keep a lid on its expansion costs after broadening powers which enable the aviation regulator to more closely scrutinise the airport’s plans. Transport Secretary Chris Grayling said the Civil Aviation Authority would now be able to seek views on the expansion of Heathrow from a wider pool and would also be able to benchmark the price of the project against international comparisons. (bit.ly/2J4sW8A)

Sky News

The investor which rescued HMV five years ago is close to striking a deal to buy Homebase, Britain's second-biggest DIY chain, that would inevitably lead to further retail sector job losses. Hilco Capital, which specialises in working with troubled retailers, emerged as the front-runner to buy Homebase during talks on Thursday with its Australian owner, Wesfarmers. (bit.ly/2J0Z7G9)

Diageo Plc, the FTSE-100 drinks firm behind Smirnoff and Guinness, has kicked off an auction of U.S.-focused spirits brands including Goldschlager, a cinnamon schnapps it has owned for more than 20 years. (bit.ly/2J11pFd)

The Independent

Spotify Technology SA has agreed to a $112 million settlement deal in a class action case over allegations that songwriters were not paid enough royalties for their work. (ind.pn/2J7TaXR)

BT Group Plc has revealed Chief Executive Gavin Patterson was paid 2.3 million pounds for the past year, weeks after the company announced it was axeing 13,000 jobs in a bid to cut costs. (ind.pn/2J5irll) ($1 = 0.7474 pounds) (Compiled by Bengaluru newsroom; Editing by Lisa Shumaker)

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