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PRESS DIGEST- British Business - Jan 10
January 10, 2017 / 12:36 AM / a year ago

PRESS DIGEST- British Business - Jan 10

Jan 10 (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

* The chief executive of Bovis Homes has resigned less than two weeks after issuing a surprise profits warning. David Ritchie, who has worked for the company for 18 years and been chief executive for eight, insisted that it was his decision to leave.

* Foreign minister Boris Johnson held "positive but frank" talks with some of U.S. President-elect Donald Trump's closest advisers in Trump Tower in the first formal meeting between members of the incoming U.S. administration and a British minister.

The Guardian

* Rolls-Royce Motor Cars has vowed not to turn its back on UK amid concerns that firms could shift their headquarters overseas in response to the Brexit vote.

* In a letter to a group of European Union (EU) citizens from the office of the home secretary, Amber Rudd, the government said it "recognises that EU nationals make an invaluable contribution to our economy and society".

The Telegraph

* Tullow Oil had sold two-thirds of its stake in Uganda's first ever oil development to its partner, French oil major Total, for $900 million on Monday.

* Tesco, Britain's biggest retailer, is shutting two of its UK distribution centres in a move that will create more than 1,000 redundancies at the supermarket chain. The decision would result in around 1,015 redundancies although it was looking to create 533 new roles.

Sky News

* Formula One teams which buy shares in the sport's holding company will be forced to retain them for at least a decade as part of a deal engineered by its prospective new owners.

* Continued access to Europe's single market after UK leaves EU must be preserved under a priority deal for the financial services sector, according to a report commissioned by scores of leading City firms.

The Independent

* Labour leader Jeremy Corbyn has abandoned his outright support for the continued free movement of EU citizens, saying he now wants "reasonably managed migration".

Compiled by Kanishka Singh in Bengaluru; Editing by Peter Cooney

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