November 3, 2016 / 12:52 AM / in 2 years

PRESS DIGEST- British Business - Nov 3

Nov 3 (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

Crude oil prices fell yesterday after a surprise build-up of stocks in the United States and a warning by Royal Dutch Shell Plc that peak demand could be as little as five years away.

Britain may revert to a closed economy that shuts itself off from the world because the battle has yet to be won for an open trading policy after Brexit, George Osborne has warned.

The Guardian

The Pensions Regulator has begun formal legal proceedings against Sir Philip Green and Dominic Chappell that could force them to fill the 571 million pounds deficit in the BHS pension scheme, marking a dramatic escalation of the scandal surrounding the demise of the high street chain.

The UK advertisers are set to spend a record 5.6 billion pounds in the run-up to Christmas, as bumper digital budgets for Google and Facebook more than make up for a tougher festive season for TV and newspapers.

The Telegraph

Online takeaway giant Just Eat has shrugged off its UK summer slowdown to bolster full-year profit guidance for a third time this year as its push into growing European markets and new technology pays off.

The John Lewis Partnership, one of the UK's most progressive companies, has led criticism of Theresa May's plan to put workers on boards.

Sky News

Burger King's parent company has approached private equity firms about a Whopper of a deal to invest in its UK operations as it seeks to eke out cost-savings in an increasingly competitive market.

A surge in luxury watch sales triggered by the plunge in sterling after June's EU referendum has prompted the owner of some of Britain's best-known jewellery chains to put them up for sale.

The Independent

The Bank of England is today expected to reveal new economic forecasts showing the biggest overshoot of its official 2 percent inflation target in the independent central bank's modern history.

EU officials have discussed new laws to undermine the UK's multi-billion pound clearing business after Brexit, London Stock Exchange chief executive, Xavier Rolet, told a House of Lords Committee.

Compiled by Subrat Patnaik in Bengaluru; Editing by Peter Cooney

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