May 4, 2018 / 12:09 AM / a year ago

PRESS DIGEST- British Business - May 4

May 4 (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

Customers of TSB Bank are likely to face months of disruption before the bank is able to fully fix the computer problems that have left many unable to access their accounts and struggling to perform basic services such as paying in cheques, financial regulators believe.

Philip Clarke, the former chief executive of Tesco Plc , has been accused of carrying out "an extraordinary act of corporate vandalism" during his troubled period at the helm of Britain's largest grocer.

The Guardian

House of Fraser's rescue restructuring faces a significant hurdle after it emerged that the department store chain may have to fund a multimillion-pound injection into its pension scheme.

An activist investor has criticised the management of Gloo Networks – the listed vehicle that aimed to buy digitally focused media companies valued up to 1 billion pounds ($1.36 billion) but is shutting up shop – for pocketing millions in salaries and bonus payouts despite failing to strike a single deal in three years.

The Telegraph

EDF, the energy firm behind the UK's nuclear revival, will deepen its offshore wind ambitions with a major deal to buy a controversial Scottish wind project.

Ophir Energy Plc will double its oil production with a $205 million (150 million pounds) deal to snap up a package of oil fields in southeast Asia from Australian oil group Santos.

Sky News

A thousand more high street jobs are at risk as Calvetron Brands, the womenswear group behind the Jacques Vert and Precis brands, prepares to call in administrators less than a year after its last rescue deal.

The Information Commissioner's Office, which has been looking into Cambridge Analytica's handling of data harvested from millions of Facebook Inc users, and raided its offices in March, said the inquiry would continue.

The Independent

Virgin Media is closing its Swansea call centre and slashing almost 800 jobs. The telecoms firm said 552 staff positions and 220 subcontractors would go before the site completely shuts down next year.

$1 = 0.7369 pounds Compiled by Bengaluru newsroom; Editing by Lisa Shumaker

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below