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PRESS DIGEST- British Business - Sept 16

Sept 16 - 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

First-half profits have plunged by nearly 15 percent at the John Lewis Partnership Plc after it had to absorb higher pay costs and pricing pressures. bit.ly/2cuQOAW

Informa Plc, the publishing and events group, is expanding in America with the 1.2 billion pounds purchase of U.S. rival Penton. bit.ly/2cuQqSX

The Guardian

The Bank of England left the door open to another interest rate cut this year, but decided that the safest option for now was to wait and see if the economy can continue to weather the initial shock of the Brexit vote. bit.ly/2cuRfLv

Shares in Sports Direct International Plc have fallen by more than 5 percent after the company's joint house broker cut full-year profit expectations for the beleaguered retailer by a fifth. bit.ly/2cuRy9g

The Telegraph

Shareholder adviser Glass Lewis recommended that SABMiller Plc shareholders support the takeover by Anheuser-Busch InBev, which is designed to soften the tax hit suffered by the two biggest shareholders in the London-listed beer giant. bit.ly/2cuU1jE

Sky News

George Osborne is vowing to save his Northern Powerhouse initiative in a move likely to be seen as a challenge to Theresa May after she sacked him. bit.ly/2cuTgY1

The Hinkley nuclear power station deal will go ahead after months of doubt, the government has announced - but there will be new conditions. bit.ly/2cuTgqX

The Independent

Fiat Chrysler Automobiles NV has said it is recalling 1.9 million vehicles worldwide for an air bag defect that is linked to three deaths and five injuries. ind.pn/2cuUNgF

Waitrose, the supermarket arm of the John Lewis partnership (JLP), has scrapped plans to open new stores, opting to revamp existing ones with wine bars and bakeries instead. ind.pn/2cuUBOC

(Compiled by Abinaya Vijayaraghavan in Bengaluru)

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