May 9, 2019 / 1:14 AM / a year ago

PRESS DIGEST- British Business - May 9

May 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

- Shareholders have publicly rebuked Standard Chartered Plc over controversial pension arrangements for its chief executive by staging a rebellion against the bank's pay plans.

- Accounting firm KPMG has been hit with another multimillion-pound fine and will be subject to additional checks by the audit watchdog after it admitted a string of failings in its work for the Co-operative Bank.

The Guardian

- Britain has gone a week without using coal to generate electricity for the first time since Queen Victoria was on the throne, in a landmark moment in the transition away from the heavily polluting fuel.

- Mike Ashley is preparing to invest millions of pounds in turning up to seven of House of Fraser's 50-plus stores into a new luxury mini-chain to be called Frasers.

The Telegraph

- Stagecoach Group Plc is taking legal action against the Department for Transport after being disqualified from bidding for the East Midlands rail franchise.

- Energy firm SSE Plc is planning to cut more than 400 jobs in its retail business covering smart meter installation because of a lack of take-up for the devices from consumers.

Sky News

- David Roper, one of the founders of Melrose Industries Plc will this week signal his intention to step down from the industrial turnaround group in the aftermath of the biggest takeover since it was set up 16 years ago.

The Independent

- A Paddy Power advert featuring the brother of former Manchester United footballer Ryan Giggs has been banned for glamorising gambling.

Compiled by Bengaluru newsroom; Editing by Lisa Shumaker

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