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PRESS DIGEST- British Business - Jan 18
January 18, 2016 / 1:00 AM / 2 years ago

PRESS DIGEST- British Business - Jan 18

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

* Waitrose is considering speeding up payments to its smallest suppliers after it emerged that it was taking three times longer than Tesco to pay some of its bills. (thetim.es/1JTlbxV)

* Uber has hit back at accusations from Boris Johnson that the ride hailing service is a significant cause of congestion in London, setting the stage for a potential showdown between the mayor of London and the San Francisco-based company. (thetim.es/1JTliJC)

The Guardian

* The fragility of the global economy will take centre-stage this week with the International Monetary Fund poised to warn of growing economic risks as business leaders and policymakers gather for the annual World Economic Forum in Davos. (bit.ly/1JTlkRV)

* Global oil prices will remain under pressure this week after Iran said it was ready to add half a million barrels a day to crude exports just hours after international sanctions were lifted this weekend. (bit.ly/1JTlpoE)

The Telegraph

* ITV is seeking a new chairman after Archie Norman unveiled plans to quit the home of Downton Abbey and The X-Factor as soon as the broadcaster can find a replacement, according to reports. (bit.ly/1JTlI2G)

* The former chairman of Barclays, Marcus Agius, has warned that the British economy could be harmed if regulators continue to curb risk-taking in the banking industry. (bit.ly/1OqZRyp)

Sky News

* Tata Steel is to axe 1,050 jobs, in another bitter blow to Britain's struggling steel industry. The Indian owned company will cut 750 jobs at its Port Talbot plant in Wales and another 300 jobs at other sites across the UK, according to Sky News. (bit.ly/1JTnIrC)

* A campaign group set up by the wife of a taxi driver will this week mount a bid to force Transport for London to put the brakes on Uber. (bit.ly/1JTmBse)

The Independent

* UK's Labour leader Jeremy Corbyn is considering a new law to force companies to share their profits with workers. A proposal to make businesses with 50 or more employees set aside at least 5 percent of their total profits for staff has been endorsed by the Labour leader and will now be considered in an official review, according to the Independent. (ind.pn/1JTmZH2)

* Apple 's board of directors has rejected a new diversity proposal calling it "unduly burdensome," despite the board being predominantly made up of white men. (ind.pn/1JTn11E) (Compiled by Parikshit Mishra in Bengaluru; Editing by Alan Crosby)

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