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PRESS DIGEST- British Business - Feb 8
February 8, 2017 / 1:43 AM / 10 months ago

PRESS DIGEST- British Business - Feb 8

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

- Developers that do not build homes quickly enough could have their land seized by local authorities, in plans being proposed by UK government.

- The government could demand that the Bank of England blocks the London Stock Exchange Group Plc and Deutsche Börse AG's merger, under powers granted to the Treasury when the central bank was nationalised 71 years ago.

The Guardian

- Britain could lose 30,000 finance sector jobs as a result of Brexit, but EU rivals need to act to avoid importing banking risk to the continent, according to an influential thinktank with close ties to the European commission.

- British government is on course to impose steep cuts in public spending and increase taxes by the end of the decade to their highest level in 30 years to combat its persistent budget deficit.

The Telegraph

- The EU faces a crisis which could threaten the sustainability of the eurozone as the International Monetary Fund has warned Greece's debts are on an "explosive" path despite years of attempted austerity and economic reforms.

- Jeremy Corbyn could be forced to sack one of his closest allies as he faces a Brexit rebellion by more than 50 Labour MPs. The Labour leader has imposed a three-line whip requiring his MPs to support legislation that will enable the Government to trigger Brexit.

Sky News

- Britain's Co-operative Group released a statement on Tuesday afternoon that said its CEO Richard Pennycook would hand over the reins of the food-to-funerals group to Steve Murrells, the head of its retail business.

- Lloyds Banking Group Plc is to review all customer cases that may have been affected by a corruption scam involving managers at its HBOS subsidiary.

The Independent

- The British Government has been accused of "conning" parliamentarians into backing their plans for Brexit without offering them a meaningful vote on any deal to leave the European Union.

- Islamist hackers linked to ISIS carried out an attack on a series of NHS websites in a cyber-attack exposing serious flaws in security systems meant to protect sensitive information. (Compiled by Bhanu Pratap in Bengaluru; Editing by Peter Cooney)

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