August 3, 2015 / 12:10 AM / 2 years ago

PRESS DIGEST- British Business - Aug 3

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

Intercontinental Hotels Group is weighing bids for rivals Fairmont and Movenpick after ruling itself out of a multibillion-pound merger with America's Starwood last week. (thetim.es/1IEkDZZ)

British Airways has pushed out the Chairman of its pension scheme Paul Spencer, after a row over an investment switch that could have seen the plan's deficit soar. His departure shocked pensions experts. (thetim.es/1IEiOMu)

The Guardian

At least two, perhaps three, of the nine members of the Bank of England's interest rate-setting committee are expected to cast their votes for a rate rise. Martin Weale and Ian McCafferty, who voted for rate rises throughout the second half of 2014 before changing their minds as inflation plunged to zero earlier this year, have signalled they could soon be ready to see borrowing costs rise. (bit.ly/1E3IDjB)

Greek investors expect a tumultuous day's trading when Athens' stock market reopens on Monday after a five-week shutdown. (bit.ly/1E3IPPQ)

The Telegraph

James Galbraith, a professor of government at the University of Texas and long-time friend of ex-Greek finance minister Yanis Varoufakis has denied being involved in a "criminal gang" intent on bringing the drachma back to Greece. The clandestine plans were made public last week following the airing of a private conversation between Varoufakis and international investors in London. (bit.ly/1E3GoNg)

Former Conservative leader Michael Howard is to be questioned by the Britain's Serious Fraud Office as part of its criminal investigation into Soma Oil and Gas in relation to allegations of corruption in Somalia. (bit.ly/1E3Gwwe)

Sky News

HSBC Holdings plc, Europe's largest bank will disclose in its interim results that it is adding a substantial sum to the $550 mln provision it has already allocated to resolve a number of investigations on both sides of the Atlantic. (bit.ly/1Iy941T)

Business groups are warning that the Calais migrant crisis is "a threat to the long-term viability" of British companies - as firms begin to count the cost of delays to travel through the Channel Tunnel. (bit.ly/1E3HbxL)

The Independent

Britain's shadow Chancellor Chris Leslie has attacked the anti-austerity agenda of the Labour leadership candidate Jeremy Corbyn, warning it would hurt poor people the most. Leslie issued a wake-up call to Labour members to reject what he called a "starry-eyed, hard left" economic strategy, amid growing signs that Corbyn could pull off a shock victory next month. (ind.pn/1E3HTeg)

British Airways said it is set to change its hand baggage allowance this summer with a new, reduced policy which may require fliers to fork out money for a new holdall or suitcase for upcoming journeys. (ind.pn/1E3I8Gg) (Compiled by Ankush Sharma in Bengaluru; Editing by Sandra Maler)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below