July 19, 2017 / 11:31 PM / a year ago

PRESS DIGEST- British Business - July 20

July 20 (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

GlaxoSmithKline Plc is selling its Horlicks business in Britain and has abandoned a planned 350 million pounds ($455.88 million) investment in Cumbria as part of a wide-ranging restructuring of its business. bit.ly/2gLCskb

The water industry has been plunged into uncertainty after the head of Ofwat announced that she is leaving the regulator to join BT Group Plc. In an announcement that shocked an industry that is just starting its next cycle of negotiations on water charges, Cathryn Ross said that she would depart at the end of the year. bit.ly/2gLMJgn

The Guardian

TopShop is getting its first male boss in 18 years with the appointment of Burberry Group Plc's executive Paul Price. bit.ly/2gLONER

U.S. investment bank Morgan Stanley has chosen Frankfurt as the site of its post-Brexit EU hub in a move that could put 200 jobs in the City of London under threat. bit.ly/2gLOw4T

The Telegraph

German regulators will be assessing the suitability of Deutsche Boerse AG's management team in light of insider trading allegations made against the German exchange's chief executive. bit.ly/2gLFpBj

Activist investor Elliott Management has slammed BHP Billiton's plans to develop a giant potash mine in Canada, warning it could be as "disastrous" as its foray into U.S. shale. bit.ly/2gLNIx5

Sky News

Mercedes-Benz is recalling hundreds of thousands of cars in the UK for a software update to reduce their nitrogen oxide (NOx) emissions. bit.ly/2gLCMiT

Tony Hayward, the former BP Plc chief executive, is to sever his ties to a Russian-backed venture which has struggled to gain British and American government approval to buy oil and gas assets. bit.ly/2gLIbq8

The Independent

Millions of workers will have to work an extra year before retiring after the Government announced plans to extend the retirement age to 68. ind.pn/2gLHdKl ($1 = 0.7678 pounds) (Compiled by Bengaluru newsroom)

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