February 18, 2016 / 1:31 AM / 2 years ago

PRESS DIGEST- British Business - Feb 18

Feb 18 - 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

- Nearly 1,400 UK engineering jobs are to go after Bombardier Inc announced it was cutting its global workforce by 10 percent. The Canadian group is to shed 1,080 jobs from its Belfast aircraft plant and three other locations over the next two years, representing more than a fifth of its workforce. (thetim.es/219sExi)

- Rolls-Royce Holdings Plc has entered into talks with an American activist investor seeking a seat on the struggling engineer's board. The group said it had not yet decided whether to give ValueAct, a San Francisco hedge fund, a place on its board. (thetim.es/219tgTE)

The Guardian

- British workers' rights to paid holiday, maternity leave and fair treatment at work would be at risk if the UK voted to leave the European Union, the head of the Trades Union Congress has warned. Frances O'Grady, general secretary of the body representing British trade unions, said the EU debate had been too dominated by business interests, with not enough focus on the potential costs for ordinary workers. (bit.ly/219tyKg)

- The number of properties in Britain worth 1 million pounds ($1.43 million) or more is set to more than triple by 2030, widening the gap between the housing haves and have-nots, according to a report. Less than half a million homes in the UK are currently valued at over 1 million pounds, but a study by high street lender Santander claims this number will rise to more than 1.6 million in the next 15 years.

The Telegraph

- Britain's job rich recovery pushed employment to a record high at the end of 2015, though a "marked" decline in wage growth since last summer suggests the Bank of England remains a long way from raising interest rates. The number of people in work rose by 205,000 to 31.42 million in the final quarter of last year, according to the Office for National Statistics (ONS). (bit.ly/219u0Z1)

- BT Group Plc is facing fresh calls to split with Openreach, its broadband infrastructure division, ahead of a landmark review into the telecoms industry. Ofcom is set to unveil next week a widely anticipated set of proposals for the next decade of the telecoms sector, including BT's arm's length control of Openreach, after almost a year of fierce debate in the industry. (bit.ly/219u234)

Sky News

- Trinity Mirror Plc, publisher of the Daily Mirror, will unveil a weekday newspaper called New Day. New Day is expected to launch on 29 February, according to people close to the plans, and will initially be priced at 25p - compared to the 40p cover price of the I newspaper, with which it is expected to compete. (bit.ly/219uWfI)

The Independent

- UK households have kicked fears of an interest rate rise this year into the long grass, despite official figures showing unemployment at its lowest for a decade. The number of households expecting the Bank of England to raise its record-low interest rates over the next 12 months has fallen to its lowest in more than two years amid near-zero inflation and growth fears, according to Markit, the financial data firm. (ind.pn/219v8M5) ($1 = 0.7000 pounds) (Compiled by Sangameswaran S in Bengaluru; Editing by Sandra Maler)

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