January 24, 2019 / 1:17 AM / 4 months ago

PRESS DIGEST- British Business - Jan 24

Jan 24 (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

Metro Bank Chief Executive Craig Donaldson has insisted he is not under pressure to resign, despite the lender revealing a mistake in its loan book and a profit warning that wiped more than 800 million pounds ($1.05 billion) off its market value. bit.ly/2CEgiYU

Barclays Plc's ex-chief John Varley on Wednesday was accused of lying to investors over 322 million pounds of secret fees paid to Middle Eastern investors to shore up Barclays during the financial crisis ten years ago. bit.ly/2CJCW26

The Guardian

Luke Johnson, the multimillionaire chairman of collapsed cafe chain Patisserie Valerie, has extracted more than 40 million stg from the business since the cafe group floated on the stock market less than five years ago. bit.ly/2CCD57f

Fears are growing internationally that a no-deal Brexit poses a threat to the stability of the global economy, the head of Britain's leading business body, Confederation of British Industry, warned. bit.ly/2CEKLpB

The Telegraph

David Scott, a veteran restaurateur who sold his former business Druckers to Patisserie Valerie more than a decade ago, has lined up advisers and will make a bid for most of the remaining 122 outlets of Patisserie Valerie. bit.ly/2CF0qoN

Telefonica's O2 and Vodafone are exploring a multibillion-pound sale of their shared collection of mobile phone masts as part of preparations for the arrival of 5G technology. bit.ly/2CBRzEq

Sky News

AS Adventure, the holding company for a retail portfolio spanning the UK and several European countries, is drawing up plans for a wave of store closures and is close to appointing advisers. bit.ly/2CEEWsc

Tesco Plc's former UK finance director Carl Rogberg was formally cleared of charges linked to a 250 million stg overstatement of profits by the chain and was told that the Serious Fraud Office (SFO) had dropped all charges against him. bit.ly/2CCZCB0

The Independent

The trade and investment arm of the Netherlands government has been soliciting moves from companies worried about access to the EU market after Brexit and more than 250 companies are in touch with the Dutch government about moving to the Netherlands. ind.pn/2CEXlFf

John Lewis said it was closing Knight & Lee department store in Southsea, Hampshire partly because its size and condition meant it would need significant investment, putting 127 jobs at risk. ind.pn/2CCYDAI

$1 = 0.7643 pounds Compiled by Bengaluru newsroom

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