July 9, 2018 / 12:19 AM / a year ago

PRESS DIGEST- British Business - July 9

July 9 (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

- David Davis resigned as Brexit secretary, signalling that he could no longer support UK Prime Minister Theresa May's approach to Brexit and prompting the worst crisis since she lost her government majority. bit.ly/2N19sjN

- UK's competition watchdog Competition and Markets Authority has challenged the accounting profession to find ways to improve choice in the auditing market that could save the Big Four firms from being broken up. bit.ly/2MZwvvb

The Guardian

- The folly of using contractors to drive down the cost of providing public services has been exposed by the collapse of Carillion Plc, according to an official report in the UK. bit.ly/2MZNc9X

- The Chinese government has emerged as a potential buyer of a multibillion-pound stake in Britain's nuclear power plants. China General Nuclear Power Group, a state-run corporation, is said to be interested in buying a major stake in the UK's eight power stations, including Sizewell in Suffolk and Dungeness in Kent. bit.ly/2N1U1rd

The Telegraph

- Renault's Formula One team has raced into profit for the first time in nearly a decade driven by a boost in sponsorship, according to newly-filed accounts. Revenue jumped by 13.9 percent to 136.3 million pounds ($181.20 million) last year. bit.ly/2N0nj9E

- The Rolling Stones are deepening their global deal with Universal Music Group through a new contract that spans record sales to global branding. bit.ly/2N1gFA9

Sky News

- Stobart Group Ltd ‎chairman Iain Ferguson has discussed with boardroom colleagues a proposal to recruit a new chairman before next year's annual meeting. bit.ly/2KGdn8X

The Independent

- The chief executive of Asda Roger Burnley has added his voice to a chorus of supermarket bosses warning that a hard Brexit could leave food rotting at the border and have severe financial implications for the sector. ind.pn/2MXHMMs ($1 = 0.7522 pounds) (Editing by Daniel Wallis)

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