July 4, 2017 / 11:31 PM / a year ago

PRESS DIGEST- British Business - July 5

July 5 (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

Nearly 2 billion pounds was added to the stock market value of Worldpay Group Plc today after the payments processing group revealed that it had received two takeover approaches. Worldpay said it had received "preliminary approaches" from Vantiv Inc, a U.S. rival, and from JPMorgan Chase & Co. (bit.ly/2tJFFp5)

The chief executive of Tesco Bank, owned by Britain's biggest retailer Tesco Plc, is to leave after almost a decade in charge of the lender. Benny Higgins will also give up his position as group strategy director of the supermarkets group and as a member of its executive committee. (bit.ly/2tOmbAG)

The Guardian

HBOS took a 240 million pounds hit in 2007 after discovering a "serious control breakdown" in its Reading operation, according to information published by the City regulator for the first time. (bit.ly/2snKu3T)

Mike Ashley, the controversial billionaire founder of Sports Direct International Plc, allegedly secretly paid his former chief executive 1 million pounds-a-year out of his personal funds in order to keep down the pay of other staff. (bit.ly/2tFS2Tv)

The Telegraph

The management of stricken gold mining company Acacia Mining Plc has been excluded from talks with the Tanzanian government about resolving a tax dispute after its majority shareholder Barrick Gold Corp intervened. (bit.ly/2tevlER)

British biotech company Angle Plc has unveiled the trial results of a potential breakthrough blood test for diagnosing ovarian cancer. Angle said its new test proved 95 percent accurate at detecting cancerous cells in the bloodstream in a study of 400 patients in Europe and the United States. (bit.ly/2unngfB)

Sky News

A telecoms infrastructure group positioning itsel‎f as a rival to BT Group Plc's Openreach division will announce on Wednesday that it is doubling its market value through an ambitious share sale. CityFibre will say that it is raising up to 200 million pounds through a placing of equity with new and existing investors. (bit.ly/2tJrT5Q)

TPG and Advent International, the private equity groups, have tabled takeover offers for Rapha, the upmarket cycling brand. (bit.ly/2snHxAk)

The Independent

Consumer goods giant Nestle SA has pledged to slash sugar in its cereals by a further 10 percent across the United Kingdom by the end of next year as part of a major drive to make some of its most popular breakfast foods healthier. (ind.pn/2tMCu10)

Compiled by Bengaluru newsroom; Editing by Lisa Shumaker

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