PRESS DIGEST- British Business - March 8

Thu, 08th Mar 2018 01:30

March 8 (Reuters) - The following are the top stories on thebusiness pages of British newspapers. Reuters has not verifiedthese stories and does not vouch for their accuracy.

The Times

Lloyds TSB agreed to "remove" 800,000 pounds ($1.11 million)of fees due to be paid to PWC from its 2008 accounts in order toavoid breaching internal rules governing auditor independence,according to documents revealed in a High Court battle. http://bit.ly/2HfK72F

A leading shareholder in Carillion Plc is callingfor the break-up of the Big Four accounting firms, in the wakeof the company's collapse in January. http://bit.ly/2HfRYNE

The Guardian

The European Union has responded to U.S. President DonaldTrump's threat of a trade war by warning that it will retaliatewith tariffs on a range of U.S. imports including peanut butter,cranberries and orange juice. http://bit.ly/2FAE8Is

New Look has confirmed plans for a restructuring processcalled a company voluntary arrangement, which could involve theclosure of up to 60 of the fashion chain's 593 stores, while afurther six sites have been sublet to third parties. http://bit.ly/2FBVB3g

The Telegraph

Energy regulator Ofgem has put forward plans for itstoughest ever clampdown on energy network profits in a bid tosave households 5 billion pounds ($6.95 billion) over fiveyears. http://bit.ly/2Hfmpn0

Chancellor of the Exchequer Philip Hammond has warned rivalEuropean cities such as Paris and Frankfurt that they should notexpect to sweep up business if London's finance sector isfragmented after Brexit. http://bit.ly/2HilIcL

Sky News

Airbus SE says 3,700 jobs across Europe will beaffected by planned production cuts to its A380 and A400Maircraft. http://bit.ly/2FzJWC4

The Institute of Directors?, one of Britain's leadingbusiness groups, has been rocked by a boardroom coup aimed atremoving its chairman, sparking threats by a string of otherdirectors to quit their roles. http://bit.ly/2FuT375

The Independent

Local councils have seen their central government fundinghalved in the era of austerity and are now on the verge offinancial breaking point, according to a new report by theNational Audit Office. https://ind.pn/2HfScEu

($1 = 0.7195 pounds)(Compiled by Bengaluru newsroom)