September 1, 2017 / 12:24 AM / in a year

PRESS DIGEST- British Business - Sept 1

Sept 1 (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

- Petrofac Ltd's chief executive Ayman Asfari made more than 300,000 euros ($357,210.00) by betting on a share price fall at a rival oil services company after its boss tipped him off about his imminent resignation, financial regulators in Italy have said.

- Interest rates need to increase in order to offset the rapid rise in inflation, a member of the Bank of England's rate-setting committee has warned.

The Guardian

- The British gambling industry's income has ballooned in size over the past decade, according to figures from the Gambling Commission.

- Ryanair Holdings PLC has stepped up warnings that flights between UK and Europe are imperilled by Brexit, with the airline's Chief Executive Michael O'Leary claiming that the prospect of disrupting aviation was one of the quickest and best ways for the EU27 to "stick it to the British".

The Telegraph

- Britain's second largest energy supplier, SSE Plc has steadily grown the profits it makes from supplying energy to households for a third year in a row despite mounting political pressure to keep bills low.

- Philip Green has threatened Labour MP Frank Field with legal action over allegations made in a radio interview last week, as tensions between the pair escalated.

Sky News

- The chief executive of New Look Group Ltd Anders Kristiansen is to step down just over two years after his turnaround of the high street fashion chain paved the way for its 2 billion pound ($2.59 billion) sale.

- Boots UK Ltd issued a legal warning to a pregnancy charity over its public campaign for more affordable emergency contraception, it has emerged.

The Independent

- Six new banks have joined UBS Group AG -led effort to create a digital cash system that would allow financial markets to make payments and settle transactions quickly via blockchain technology.

- The amount of money flowing into cash ISAs has fallen dramatically in the most recent financial year, as consumers have been put off by low interest rates and a change in taxes. ($1 = 0.7729 pounds) ($1 = 0.8398 euros) (Compiled by Bengaluru newsroom; Editing by Sandra Maler)

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