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PRESS DIGEST- British Business - April 3

April 3 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

* Hermes Fund Managers has raised doubts about Tesco's proposed 3.5 billion pound ($4.39 billion) purchase of the wholesaler Booker, saying that it could put corner shops out of business and trigger a backlash against the retail giant. bit.ly/2o0EdvT

* Reckitt Benckiser has launched a review of the business, which includes French's mustard and Frank's Red Hot sauces. A disposal of the business could help reduce debt after the $17.9 billion deal to buy Mead Johnson, the American baby milk-powder maker. bit.ly/2o0OTdJ

The Guardian

* David Green, the director of the Serious Fraud Office, has warned that British businesses should not consider deferred prosecution agreements (DPAs) the "new normal" if they are caught misbehaving. bit.ly/2o0Cg2g

* The pension scheme deficit at Philip Green's Arcadia Group has risen to nearly 1 billion pounds, which means another headache for the former BHS owner. bit.ly/2o0DcDS

The Telegraph

* Twitter is seeking to ink deals with pay-TV companies that would let subscribers watch live channels over the social network as part of a major video push. bit.ly/2o0yYfL

* British artificial intelligence firm, Cortexica, has raised 4 million pounds to develop visual recognition technology that aims to mimic how humans see the real world. bit.ly/2o0uFAX

Sky News

* Babcock In‎ternational will this week set sail towards a prestigious 340 million pound deal providing support services to the Royal Navy's fleet of warships, according to Sky News. bit.ly/2oNzYRh

* Sky News has learnt that Co-op Group directors and their advisers will opt to reduce the value of its 20 percent stake in the Co-operative Bank to zero, reflecting mounting uncertainty about the troubled lender's future. bit.ly/2oNyvdG

The Independent

* British Defense Secretary Michael Fallon said it is "very important to link trade and security" in the negotiations with the European Union over the UK's future deal with the bloc. ind.pn/2o0yNkn

($1 = 0.7967 pounds) (Compiled by Parikshit Mishra in Bengaluru; Editing by Sandra Maler)

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