October 26, 2017 / 11:59 PM / a year ago

PRESS DIGEST- British Business - Oct 27

Oct 27 (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

- Carelessness in preparing tax returns is costing the UK Treasury about 6 billion pounds ($7.88 billion) a year and is the biggest contributor to the UK's tax gap as figures from Revenue & Customs show that 34 billion pounds of tax revenue went uncollected between 2015 and 2016. bit.ly/2xsxH2R

- Britain's newspaper and magazine wholesaler Connect Group Plc said the job losses planned over the next year equated to 6 percent, or 340 jobs, of its total workforce. bit.ly/2xpyOA9

The Guardian

- Lloyds Pharmacy has announced it will close nearly 200 stores across England because of changes in government policy. bit.ly/2xqhj2B

- Carsten Kengeter , the chief executive of Germany's stock exchange Deutsche Boerse AG has resigned to avoid distractions caused by allegations that he has been involved in insider dealing. bit.ly/2xqHQgx

The Telegraph

- HSBC Holdings Plc's former head of currency trading in London, Stuart Scott, will be extradited to the US to face fraud charges, a UK court has ruled. bit.ly/2xrT04q

- The administrators of defunct Monarch airlines are entering a legal battle in a bid to prevent it being stripped of the carrier's valuable takeoff and landing slots at Gatwick Airport. The value of these is estimated at 60 million pounds ($78.77 million). bit.ly/2xrkSWp

Sky News

- Bombardier Inc is to cut 280 jobs at its Belfast operations as the company's trade row with US rival Boeing Co continues to simmer. bit.ly/2xsuqR7

- EU Commissioner Margrethe Vestager said Britain is being investigated by the EU over the legality of a tax exemption scheme for multinational companies. bit.ly/2xqqi4a

The Independent

- The European Central Bank has announced that it will start scaling back its massive 60 billion euros ($69.84 billion) per-month asset buying programme in the new year, setting the scene for an eventual interest rate hike and underscoring the extent to which the bloc's economy has recovered since the financial crisis. ind.pn/2xrFRbS

$1 = 0.8591 euros $1 = 0.7617 pounds Compiled by Bengaluru newsroom

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