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PRESS DIGEST- British Business - Dec 8
December 8, 2014 / 1:07 AM / 3 years ago

PRESS DIGEST- British Business - Dec 8

Dec 8 (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

‘NO’ MAY NOT BE FINAL WORD AS JLIF TAKES ISSUE WITH BALFOUR

Balfour Beatty Plc's year worsened last night after it emerged that the findings of an internal investigation will not be known until the new year and that a rebuffed bidder for a large chunk of the group was not taking "no" for an answer. (thetim.es/1wk3RLd)

“TREASURY OFFICIAL” SHARON WHITE IN FRAME TO RUN OFCOM

Sharon White, the first woman to be appointed to the role of second permanent secretary at the Treasury last year, has been recommended to replace Ed Richards, the outgoing Ofcom chief executive. (thetim.es/1yYHSYa)

The Guardian

CITY‘S STATUS AS STOLEN-MONEY HAVEN A STAIN ON UK, SAYS EX-REGULATOR MP

The city of London's status as a favourite place for the world's dishonest officials to hide stolen money will remain a stain on the UK's reputation, despite a long-awaited government anti-corruption plan, according to a former regulator who is now an MP. (bit.ly/1zeqmAe)

MARKS AND SPENCER CUSTOMERS HIT BY DELAYS TO ONLINE SHOPPING ORDERS

Marks and Spencer Group Plc's new delivery centre is part of a 1 billion pounds ($1.56 billion) programme to improve ageing IT and distribution systems in order to ensure it has the right items in stores and is able to handle increasing demand for home deliveries. (bit.ly/1ys91ov)

The Telegraph

PREMIER FOODS BACKTRACKS ON SUPPLIER DEMANDS BUT REFUSES TO APOLOGISE

Premier Foods will still seek financial contributions from suppliers despite backtracking on its controversial "pay to stay" scheme after fierce criticism from politicians. Gavin Darby, chief executive of Premier, said the company will drop its request for investment from suppliers but will instead seek a discount on the prices it pays for goods. (bit.ly/1ys4YIX)

SOUTH AFRICAN BILLIONAIRE PLANS TO LAUNCH MAJOR NEW FASHION RETAILER IN THE UK

The South African billionaire Christo Wiese is planning an assault on the UK retail market and has built a collection of heavyweight figures from the industry to lead his plans. A new company called Pepkor UK Retail Limited, named after Wiese's holding group, has been registered at Companies House. (bit.ly/1wPC0lF)

Sky News

WONGA BRACES FOR FCA CAP WITH LOWER-COST LOAN

Britain's biggest payday lender has begun secret trials of lower-cost loans just weeks before a deadline set by the City regulator to comply with a new crackdown on the industry. Wonga has in the last fortnight started offering finance to a number of randomly selected customers who are offered substantially better terms than other borrowers. (bit.ly/1s2sBpH)

NIGEL WICKS TO STEP DOWN AS CHAIRMAN OF BANK BODY

Nigel Wicks is to step down as chairman of the British Bankers' Association (BBA) following a three-year term in which it surrendered oversight of interbank borrowing rates following the Libor rate-rigging scandal. (bit.ly/1wPCXug)

$1 = 0.6422 pounds Compiled by Zara Mascarenhas in Bengaluru; Editing by Nick Zieminski

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