PRESS DIGEST- British Business - Oct 21
Oct 21 (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.
SIGNALS OF DECLINE MOUNT FOR RAIL ROUTE The TransPennine Express is a microcosm of the British railway industry, at once enjoying unprecedented growth but with old, overcrowded trains that create a bar to economic progress. It is the railway that lives up to only half its name. Its core route is transporting people across the Pennines between Leeds and Manchester, but it does so at non-express average speeds of 40mph. (thetim.es/11ZcHk6) CGI EXPANSION GIVES WALES HIGH-TECH JOBS BOOST The burgeoning Welsh high-tech sector is set for a major boost after CGI Group Inc, the Canadian company that bought Logica, announced plans to create 620 skilled jobs in south Wales. CGI, which is the largest tech employer in the region with 900 employees, has announced plans to create hundreds of positions over the next five years after receiving a 3.2 million pound grant from the Welsh Government. (thetim.es/1zijBQd)
BARCLAYS CHAIRMAN QUESTIONS IMPACT OF LARGE BANK FINES ON PUBLIC CONFIDENCE
David Walker, appointed chairman of Barclays Plc in the wake of the Libor-rigging scandal in 2012 said on Monday that big fines on banks were making it harder for the industry to win back public trust. He also suggested fines were being levied for activities that in the past might have been regarded as acceptable, though he acknowledged past conduct issues needed to be dealt with. (bit.ly/1yc58Rw) FORMER JJB SPORTS CHIEF FAILS TO GIVE EVIDENCE AT 1 MLN STG FRAUD TRIAL Christopher Ronnie, former chief executive of JJB Sports Plc, accused of a 1 million pounds ($1.62 million) fraud has chosen not to give evidence in his defence at his trial. Ronnie was warned by the judge that jurors may "draw such inferences as appear proper" by his failure to take to the witness box. Ronnie is accused of receiving three payments from two sporting goods companies and failing to declare them to JJB's board of directors. Southwark crown court heard he used some of the cash to buy property in Florida. It had been anticipated that he would give evidence in his defence, but his barrister, Jim Sturman QC, told the jury on Monday: "We are calling no evidence at all for Ronnie." (bit.ly/1wko2Ey)