December 1, 2016 / 12:57 AM / in a year

PRESS DIGEST- British Business - Dec 1

Dec 1 (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

* The European Union (EU) will continue to need the city of London after Brexit, Bank of England Governor Mark Carney said, as he warned Brussels against seeking to damage the UK's financial sector. bit.ly/2fMWrcz

* Royal Bank of Scotland Group Plc has given warning that it would be unable to handle a new financial crash after failing the latest round of Bank of England stress tests designed to assess the strength of the United Kingdom's largest lenders. bit.ly/2gMgbxO

The Guardian

* Speaking as he launched a new product that Philip Morris International Inc claims is less harmful than traditional smoking, Chief Executive Officer André Calantzopoulos predicted a "phase-out period" for cigarettes. bit.ly/2fQ3HYj

* Labour MPs turned out in force on Wednesday to help defeat a parliamentary motion 439-70 that called for Tony Blair to be held to account for allegedly misleading parliament over the Iraq war. bit.ly/2fN17z7

The Telegraph

* A former business analyst at Logica and a man who was his neighbour have pleaded guilty to three counts of insider dealing during the IT consultancy's 1.7 billion pounds ($2.13 billion) takeover by rival CGI Group Inc four years ago. bit.ly/2gmqsUb

* Food giant Nestle SA claims it has found a method to almost halve the amount of sugar in its chocolate. bit.ly/2gK9OMy

Sky News

* Ford Motor Co Chief Executive Officer Mark Fields said it is important that manufacturers in the United Kingdom are treated equally as Brexit looms. bit.ly/2gitQj1

* The most senior British member of the European Court of Justice (ECJ), Eleanor Sharpston, has told Sky News that the ECJ has "ultimate authority" over Article 50, the formal process to divorce the EU. bit.ly/2fBGR89

The Independent

* The Organisation of the Petroleum Exporting Countries has reached a deal amongst all 14 members to curtail oil supply for the first time in eight years. ind.pn/2gKncim

* Claims that Boris Johnson told at least four EU ambassadors that he supports freedom of movement have been dismissed as a "total lie" by sources close to the foreign secretary. ind.pn/2fSMGg1

($1=0.80 pounds)

Compiled by Kanishka Singh in Bengaluru; Editing by Lisa Shumaker

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