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PRESS DIGEST- British Business - Jan 5
January 5, 2017 / 1:28 AM / 9 months ago

PRESS DIGEST- British Business - Jan 5

Jan 5 - 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 Competition and Markets Authority has raised concerns over Mastercard Inc's takeover of VocaLink Holdings, warning that the deal could give the credit and debit card provider too strong a hold over part of the United Kingdom's payment systems.

Poor Christmas trading at Next Plc has delivered a blow to the entire retail industry, hitting confidence and dragging down the shares in many listed stores groups yesterday.

The Guardian

The discount retail chain B&M European Value Retail SA revealed a bumper Christmas trading period with sales up to 7.2 percent at established UK stores in 13 weeks to Dec. 24.

David Metcalf, a founding member of the Low Pay Commission and former chairman of the Migration Advisory Committee, was named on Thursday as the first director of Labour Market Enforcement.

The Telegraph

ConvaTec Group Plc, the wound dressings manufacturer, has bought Dutch rival Eurotec Beheer for 25 million euros ($26.30 million), in the company's first acquisition since listing on the stock market in October.

Britain's economy is bouncing back from the slump in business confidence which struck in the wake of the Brexit vote, with services, manufacturing and construction firms all reporting solid growth in the final months of 2016.

Sky News

Next Plc has warned its shoppers they face price rises of up to 5 percent in the year ahead, with a series of cost pressures potentially knocking annual profits by as much as 14 percent.

Currency trading broker FxPro has shelved plans for a London stock market flotation amid a crackdown by regulators on financial spread-betting groups.

The Independent

Mark Clare is to replace Baroness Ford as the chairman of Grainger Plc, breaking up the first all-female board of a FTSE company.

Department store chain John Lewis Plc saw sales surge by more than a third in the run-up to Christmas, with a similar boost of 31.1 percent at its Waitrose supermarkets, despite tough trading conditions for retailers.

$1 = 0.9507 euros Compiled by Vishal Sridhar; Editing by Lisa Shumaker

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