October 9, 2015 / 12:34 AM / in 2 years

PRESS DIGEST- British Business - Oct 9

Oct 9 (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

- The Bank of England kept interest rates on hold at the record low of 0.5 percent once again, with Ian McCafferty remaining the only member to vote for an increase. (thetim.es/1LpJU6Y)

- Government hopes of strong demand for Lloyds Banking Group Plc's shares have risen after an intermediary said that it had received more than 120,000 expressions of interest in the three days since the proposed sale was announced. (thetim.es/1PkffOF)

The Guardian

- The Bank of England has told major banks to check the impact of falling commodity prices on their lending positions. The demand for information by the Bank of England has emerged at a time when banking analysts have been questioning the exposure of banks to the fallout in the commodity sector. (bit.ly/1jRTbPk)

The Telegraph

- Bill Gross is suing Pacific Investment Management Co, claiming he was forced out of the asset manager he founded and built into one of the largest in the world. The 71-year-old investment veteran says he is owed "hundreds of millions" for wrongful termination, breach of written contract and breach of covenant of good faith and fair dealing, according to a court filing. (bit.ly/1G0VSI8)

- The head of the International Monetary Fund has given a ringing endorsement to George Osborne's plans to beef up Britain's infrastructure, describing it as a "win-win" option to boost growth. IMF chief Christine Lagarde said targeted investment in infrastructure would create jobs in the short term and lift future growth prospects. (bit.ly/1htgT2A)

Sky News

- Sky News has learnt that Metro Bank has appointed Bank of America Corp's Merrill Lynch, Goldman Sachs Group Inc and Royal Bank of Canada to work on its initial public offering, which could take place as soon as the first quarter of next year. (bit.ly/1WPNxLU)

The Independent

- Virgin Trains has reacted angrily to being named as the operator with the highest rate of complaints for the 11th quarter in a row. A spokeswoman for the firm said the score was high because Virgin Trains makes it easier than any other train company to provide feedback. (ind.pn/1R1MgNH)

- Lidl has said it will include staff in Northern Ireland when it switches over to pay the living wage, reversing an earlier decision of introducing living wage for the United Kingdom staff excluding Northern Ireland. (ind.pn/1ZfAaXg)

Compiled by Sangameswaran S; Editing by Lisa Shumaker

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