September 5, 2017 / 12:30 AM / 10 months ago

PRESS DIGEST- British Business - Sept 5

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

- Acacia Mining is mothballing mining operations at one of its three Tanzanian sites after the country’s export ban left it unable to sell its output. The decision will result in “significant” job losses among the 2,000 staff at the Bulyanhulu mine.

- C&C Group finally secured a pubs deal, teaming up with the New York-based Proprium Capital Partners to acquire Admiral Taverns for an estimated 220 million pounds ($284.37 million).

The Guardian

- PR agency Bell Pottinger has been expelled from the industry’s trade association after an investigation found its secret campaign to stir up racial tensions in South Africa to be the worst breach of ethics in its history.

The Telegraph

- Norway’s $1 trillion oil fund has issued a resounding vote of confidence in the UK economy and the long-term prospects for the pound, raising its target for sterling bonds to 8 percent of its global benchmark fund.

- The trial of three former Tesco directors accused of fraud in relation to the supermarket's 263 million pound accounting scandal three years ago has been adjourned until Sept. 25.

Sky News

- Aveva, the engineering software group, will this week unveil a 3 billion-pound-plus merger with the software arm of France’s Schneider Electric.

- The U.K. government has selected six locations to pilot a scheme which will see homes and businesses get broadband speeds of 1Gb per second.

The Independent

- Daimler will start ride-sharing shuttles in London later this year, expanding its cooperation with U.S. startup Via Transportation, whose on-demand service racks up 1 million rides a month across New York, Chicago and Washington.

- Activity among Britain’s builders slumped to its lowest in a year in August. The Purchasing Managers’ Index came in at 51.1, down from 51.9 in July and lower than City analysts’ expectations of 52. ($1 = 0.7736 pounds) (Compiled by Bengaluru newsroom; Editing by James Dalgleish)

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