October 20, 2015 / 12:34 AM / 2 years ago

PRESS DIGEST- British Business - Oct 20

Oct 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

- The crisis in the British steel industry intensified yesterday when Caparo, one of Britain's largest privately owned companies slumped into administration, putting 1,700 jobs at risk. (thetim.es/1jQQ3D3)

- Deutsche Bank AG paid $6 billion to an American hedge fund client by mistake in a "fat finger" trade on its foreign exchange desk this summer. (thetim.es/1LHfCB8)

The Guardian

- One and two cent coins are on its way out in much of Europe, with Ireland the latest country to drop the coins from circulation. The Central Bank of Ireland said one-cent coins cost more to mint than their equivalent face value. (bit.ly/1LZvXgu)

- Shoppers are set to benefit from their favourite fruit, vegetables and salad staying fresher for longer, under an initiative by the United Kingdom's biggest supermarket, Tesco PLC to slash food waste. (bit.ly/1kktwim)

The Telegraph

- The first United Kingdom nuclear power plant in a generation will be 33.5 percent owned by China, with EDF set to announce a landmark deal on Hinkley Point on Wednesday. Bosses at the French energy giant, which is building the 24.5 billion pounds ($37.89 billion)station in Somerset, sealed an agreement just hours before Chinese President Xi Jinping arrived in Britain for a four-day visit. (bit.ly/1jQRb9G)

- The terrible damage wrought on property investors and the construction market could be avoided in future if the commercial property sector properly understood the business cycle, rather than getting caught up in exuberance every time, a top Bank of England official, Alex Brazier said. (bit.ly/1QNoNQK)

Sky News

- The average United Kingdom house is now worth 296,549 pounds according to property website Rightmove. This new record price is 5.6 percent higher than October 2014 and 0.6 percent higher than the average listed price in September. (bit.ly/1MQmQ70)

The Independent

- The government is pushing ahead with plans to cut subsidies for renewables such as solar and wind. Hundreds of green energy companies could be forced out of business in months with the loss of tens of thousands of jobs as the government appears determined to pull the plug on renewable energy, industry leaders have warned. (ind.pn/1OEIDQn)

$1 = 0.6466 pounds Compiled by Sangameswaran S

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