June 12, 2018 / 12:13 AM / 4 months ago

PRESS DIGEST- British Business - June 12

June 12 (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

- The Financial Reporting Council has fined KPMG 3.2 million pounds for its auditing of Quindell, ending a three-year investigation into the bookkeeping of the scandal-hit insurance technology company now known as Watchstone Group Plc. bit.ly/2xYLLFU

- California-based start-up Olaplex has secured a rare victory in Britain in a patent infringement battle with L'Oréal, the French cosmetics giant. The court found that L'Oreal's product infringed Olaplex's UK patent for its Bond Multiplier hair-lightening product. bit.ly/2JCEMUv

The Guardian

- Cabin crew at Ryanair Holdings Plc in the UK will be represented by a union for the first time after Unite signed a recognition agreement with the airline. About 650 staff working from Ryanair's UK bases could be covered by the deal, with the union able to represent them in talks on pay, hours and holidays. bit.ly/2Jzz3Pj

- Britain's factories unexpectedly recorded the sharpest fall in output for more than five years in April. The Office for National Statistics said manufacturing output fell by 1.4 percent in April from the previous month. bit.ly/2sPP39D

The Telegraph

- Jaguar Land Rover is to end production of its Discovery off-roader at its Solihull plant and move the work to its new factory in Slovakia. bit.ly/2HJbvWm

- Challenger stock exchange Aquis will float on the junior Aim market to bolster its war chest to take on larger rivals, such as the London Stock Exchange and Deutsche Boerse. bit.ly/2sPPOzv

Sky News

- Bargain retailer Poundworld has crashed into administration, putting 5,100 jobs at risk after last-ditch rescue talks failed. bit.ly/2l5l2ON

- Rolls-Royce Holdings Plc has warned it has identified more problems with its engines that have forced airlines to ground and lease replacement planes. bit.ly/2l1Rqld

The Independent

- Legal & General has pledged to take action on companies not doing enough to combat climate change. The fund manager, which invests around 1 trillion pounds on behalf of its customers, said it would exclude climate change laggards from its Future World Fund. ind.pn/2sOnPjA (Compiled by Bengaluru newsroom)

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