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PRESS DIGEST- British Business - July 15
July 14, 2015 / 11:24 PM / 2 years ago

PRESS DIGEST- British Business - July 15

July 15 (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

UK INFLATION RETREATS TO ZERO IN JUNE

According to the Office of National Statistics, inflation in UK has dropped back towards its lowest rate in more than 50 years, as summer fashion sales and the supermarkets' food price war took its toll on prices. (thetim.es/1TBanFp)

BBC BOSSES TELL TORIES TO KEEP THEIR HANDS OFF AS WAGE BILL HITS 1 BLN STG

BBC bosses have launched a stinging counter-attack against government attempts to limit the corporation's remit and funding, though figures show that its wage bill increased to almost 1 billion stg last year as staff numbers and presenter salaries rose. (thetim.es/1HJqyIm)

The Guardian

LORD GREEN ADMITS HSBC SHOULD HAVE CONDUCTED TOUGHER CHECKS ON SWISS ARM

The former HSBC Holdings PLC boss Lord Green has admitted the bank should have made more stringent checks before buying its Swiss private banking arm, as he apologised for failures at the disgraced UK-based bank. (bit.ly/1Ht6nBj)

OSBORNE RESISTS USE OF UK-BACKED EU FUND FOR GREEK EMERGENCY LOAN

Europe is split over whether Greece could be offered an emergency loan from a central EU fund in a move that could require around 850 million stg of financial support from the UK. George Osborne, the chancellor, is furiously opposing the idea, saying it is a "non-starter". (bit.ly/1V0ct37)

The Telegraph

BRITAIN‘S BANKS FACE 40 BLN STG BILL AS A RESULT OF GEORGE OSBORNE‘S EXTRA TAXES

Britain's banks are facing a 40 billion stg decade-long tax headache as a result of industry specific levies imposed by the Chancellor. (bit.ly/1M9g2RC)

IMF STUNS EUROPE WITH CALL FOR MASSIVE GREEK DEBT RELIEF

The International Monetary Fund has set off a political earthquake in Europe, warning that Greece may need a full moratorium on debt payments for 30 years and perhaps even long-term subsidies to claw its way out of depression. (bit.ly/1IYOw7B)

Sky News

POUND UP AFTER MARK CARNEY RATE HIKE COMMENT

The value of the pound against the dollar has jumped by more than one cent after the Governor of the Bank of England, Mark Carney, suggested the time for a rise in interest rates was getting closer. (bit.ly/1M9gijy)

CITY BOOSTS BRUSSELS PRESENCE AS POLL LOOMS

The City of London Corporation has initiated a process to recruit a prominent figure who will serve as a senior representative for London's financial services sector during a crucial period for Britain's European Union (EU) membership. (bit.ly/1TAGmpd)

The Independent

GREECE DEBT CRISIS: GREEK GOVERNMENT OFFICIAL SAYS TSIPRAS ‘WILL NOT RESIGN’ AFTER PARLIAMENT VOTES ON THE BAILOUT PACKAGE

A Greek government official has said that Prime Minister Alexis Tsipras will not resign after agreeing to a bailout package from EU leaders, despite speculation that he would after the parliamentary vote on the tough plan. (ind.pn/1MsmW1x)

Compiled by Rishika Sadam in Bengaluru; Editing by Diane Craft

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