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PRESS DIGEST- British Business - May 17
May 17, 2017 / 12:07 AM / 7 months ago

PRESS DIGEST- British Business - May 17

May 17 (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

- A Labour party government in Britain would stifle innovation, deter business investment, cost jobs and damage growth, business groups, including British Chambers of Commerce, said yesterday as they rounded on the party's manifesto.

- Profits at the CYBG Plc that owns Clydesdale Bank fell as restructuring and conduct costs and sluggish growth took its toll on the mid-sized lender.

The Guardian

- Tata Steel Ltd has taken a step towards helping secure the future of its UK operations –- including the Port Talbot works in south Wales –- by reaching an outline agreement over the restructuring of its pension scheme.

- The European court of justice has raised a ray of hope for British trade negotiators with a surprise ruling that will make it harder for national parliaments to block key components of any future post-Brexit deal between the EU and the UK.

The Telegraph

- The wind developer Dong Energy A/S said the size of its giant offshore blades, currently in UK waters, will double again within seven years. The company will officially open the second phase of its giant Burbo Bank offshore wind farm off the coast of Merseyside coast later today by showcasing its 8 MW turbines, the largest ever used.

- Vodafone Group Plc has signalled accelerating growth and promised a turnaround in its struggling UK business, boosting its shares at the end of a mixed year at home and abroad, in which losses topped 6 billion euros ($6.66 billion).

Sky News

- Lloyds Banking Group Plc has been freed from partial state ownership for the first time in almost a decade with the Government set to confirm it has sold its remaining holding in UK's biggest high street lender.

- Labour Party has set out plans to raise an extra 6.4 billion pounds ($8.27 billion) a year from the top 5 percent of earners in UK to pay for "a fairer, more prosperous society for the many, not just the few".

The Independent

- Tesco Plc has announced it will run 100 percent on renewable electricity in the UK and Ireland this year and worldwide by 2030 in a move which one solar panel company said would create "huge demand" in the sector.

- Inflation in Britain jumped unexpectedly to 2.7 percent in April, the highest since September 2013, as the slump in the pound since last June's Brexit vote hit home.

$1 = 0.7743 pounds $1 = 0.9015 euros Compiled by Bengaluru newsroom; Editing by Sandra Maler

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