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PRESS DIGEST- British Business - June 13
June 12, 2017 / 11:50 PM / in 6 months

PRESS DIGEST- British Business - June 13

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

* Weir Group is paying 89 million pounds ($112.74 million) to increase its exposure to the Asian oil services market in its first acquisition in two years.

* Land Securities Group PLC, Britain's largest listed property company, has changed it name to Landsec.

The Guardian

* The future of Uber Chief Executive Travis Kalanick is hanging in the balance after the embattled cab company's board voted to adopt a portfolio of recommendations to fight sexual harassment in the firm.

* The number of homes changing hands in London slumped by almost a third year on year in the spring, as changes to stamp duty rates, high prices and Brexit uncertainty slowed the market, according to the latest monthly index from estate agents Your Move.

The Telegraph

* Vincent De Rivaz, the veteran boss of EDF, will step down from the French energy group at the end of October this year.

* Jaguar Land Rover has invested $25 million in Lyft, making it the latest car giant to pick a side in the increasingly bitter war between the U.S. taxi-hailing app and its arch-rival Uber.

Sky News

* Royal Bank of Scotland is closing on a multibillion-pound settlement with a U.S. regulator over the mis-selling of toxic mortgage bonds - a deal that will remove one of the long-standing obstacles to the Government returning the lender to the private sector, according to Sky News.

* Qatar Reinsurance Company has teamed up with Centerbridge, a U.S.-based investment firm, to attempt to buy Sabre from BC Partners, the private equity firm which has owned it since 2013, according to Sky News.

The Independent

* A poll of almost 700 business leaders conducted by the Institute of Directors in the immediate aftermath of last week's general election reveals a dramatic drop in business confidence and major concerns relating to political uncertainty.

* Thousands of UK households face energy bill hikes of almost 200 pounds on average as gas and electricity providers roll customers onto standard variable tariffs. A total of 54 fixed-rate energy deals are set to expire before the end of August, according to research by price comparison site Money Supermarket. ($1 = 0.7895 pounds) (Compiled by Bengaluru newsroom; Editing by Richard Chang)

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