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PRESS DIGEST- British Business - April 3
April 2, 2017 / 11:25 PM / 8 months ago

PRESS DIGEST- British Business - April 3

April 3 (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

* Hermes Fund Managers has raised doubts about Tesco's proposed 3.5 billion pound ($4.39 billion) purchase of the wholesaler Booker, saying that it could put corner shops out of business and trigger a backlash against the retail giant.

* Reckitt Benckiser has launched a review of the business, which includes French's mustard and Frank's Red Hot sauces. A disposal of the business could help reduce debt after the $17.9 billion deal to buy Mead Johnson, the American baby milk-powder maker.

The Guardian

* David Green, the director of the Serious Fraud Office, has warned that British businesses should not consider deferred prosecution agreements (DPAs) the "new normal" if they are caught misbehaving.

* The pension scheme deficit at Philip Green's Arcadia Group has risen to nearly 1 billion pounds, which means another headache for the former BHS owner.

The Telegraph

* Twitter is seeking to ink deals with pay-TV companies that would let subscribers watch live channels over the social network as part of a major video push.

* British artificial intelligence firm, Cortexica, has raised 4 million pounds to develop visual recognition technology that aims to mimic how humans see the real world.

Sky News

* Babcock In‎ternational will this week set sail towards a prestigious 340 million pound deal providing support services to the Royal Navy's fleet of warships, according to Sky News.

* Sky News has learnt that Co-op Group directors and their advisers will opt to reduce the value of its 20 percent stake in the Co-operative Bank to zero, reflecting mounting uncertainty about the troubled lender's future.

The Independent

* British Defense Secretary Michael Fallon said it is "very important to link trade and security" in the negotiations with the European Union over the UK's future deal with the bloc.

$1 = 0.7967 pounds Compiled by Parikshit Mishra in Bengaluru; Editing by Sandra Maler

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