November 2, 2017 / 1:34 AM / a year ago

PRESS DIGEST- British Business - Nov 2

Nov 2 (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

- Littlewoods, the retailer owned by the Barclay brothers, has lost a legal battle to recover 1.25 billion pounds ($1.66 billion) in interest on overpaid VAT after five Supreme Court justices unanimously dismissed the claim.

- The completion of a $3 billion deal to buy fields from Royal Dutch Shell Plc has established Chrysaor as the biggest independent exploration and production company in the UK North Sea.

The Guardian

- Sam Woods, a deputy governor of Bank of England, at an appearance before peers on the Lords EU financial affairs sub-committee on Wednesday warned that 10,000 jobs could leave the City on "day one" after the United Kingdom leaves the EU.

- British lawmaker Peter Hain has asked for an investigation into "possible criminal complicity" by HSBC Holdings Plc in a money laundering scandal involving South Africa's wealthy Gupta family, according to a letter sent to finance minister Philip Hammond.

The Telegraph

- BT Group Plc has sparked government anger by "dragging its feet" over the legal separation of its network arm Openreach, amid concern that critical deadlines could be missed.

- Spending on British television programmes will plummet by 500 million pounds a year over the next decade as Inc , Apple Inc and Netflix Inc seek to dominate the living room, the director-general of the BBC has warned.

Sky News

- Thousands of BT Group Plc employees will be told later this month of proposed cuts to their pension benefits as the telecoms firm wrestles with a near 14 billion pound deficit in its retirement schemes.

- Struggling doorstep lender Provident Financial, has appointed Rick Hunkin as its first group chief risk officer.

The Independent

- Designer furniture retailer Lombok has become the first UK company to be prosecuted and fined under illegal logging rules designed to stop the import of timber linked to widespread deforestation around the world. The company was prosecuted at Westminster Magistrates Court and fined 5,000 pounds plus costs.

- The United Kingdom has received a damning bill of health in the World Economic Forum's (WEF) latest gender gap report, trailing dozens of other countries in areas like primary education, economic participation and healthcare, at a time when the government is battling a slew of sexual abuse allegations.

$1 = 0.7542 pounds Compiled by Bengaluru newsroom; Editing by Lisa Shumaker

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