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PRESS DIGEST- British Business - Oct 13

Oct 13 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

* Only 1 percent of international students break the terms of their visa by refusing to leave after their course ends, a government study has found. The research threatens to undermine Prime Minister Theresa May's case for a crackdown on foreign student recruitment and calls into question past estimates that put the figure far higher. (bit.ly/2ddqCYU)

* British classics such as Colman's mustard, Hellmann's mayonnaise, PG Tips teabags and Marmite were withdrawn from Tesco Plc's website yesterday as the supermarket had a pricing dispute with the brands' owner, Unilever, which may be a sign of fallout from sterling's recent plunge in value. (bit.ly/2d8qoXY)

The Guardian

* A brief rally in the pound was quickly reversed on Wednesday after the government refused to make tariff-free access to the European Union's single market a red line in Brexit negotiations with Brussels. Investors sold the pound after Brexit minister David Davis told MPs it was "not black or white" whether the UK would stay in the single market. (bit.ly/2ddt4yO)

* Two coal power plants will be paid a combined 77 million pounds ($95.75 million) to be on standby this winter as part of National Grid's plan to minimise the risk of electricity blackouts. The size of the UK's capacity margin - the buffer zone between available power supply and predicted peak demand - will be revealed on Friday when National Grid publishes its winter outlook. (bit.ly/2e8QA0w)

The Telegraph

* British businesses should stop hiding and instead travel the world promoting "Brand Britain" as "cheerleaders of open markets", according to former Sainsbury's boss Justin King. (bit.ly/2d86Y5y)

Sky News

Britain will seek "maximum possible access" to the European market once it leaves the EU, Theresa May has said. But the Prime Minister stressed the June 23 vote also meant "we should control the movement of people from the EU into the UK". (bit.ly/2etnzki) ($1 = 0.8042 pounds) (Compiled by Shivam Srivastava in Bengaluru; Editing by Bill Rigby)

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