May 10, 2019 / 1:23 AM / a year ago

PRESS DIGEST- British Business - May 10

May 10 (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

- Metro Bank Plc could substantially increase the amount of capital it raises in a planned rights issue and unveil a new management team as part of efforts to stabilise the high street lender reeling from an accounting blunder.

- Philip Jansen, the new boss of BT Group Plc, has unveiled plans to connect millions of homes with full fibre by the mid-2020s in a boost to its broadband targets.

The Guardian

- The famous London toy retailer Hamleys has been sold to its Indian business partner, Reliance Industries Ltd, in a deal worth nearly 70 million pounds ($91.08 million).

- TSB is expected to cull at least 100 head office jobs as the bank attempts to move on from last year's IT debacle.

The Telegraph

- Almost 1 million workers could lose their jobs to robots, according to the Organisation for Economic Cooperation and Development - and retraining them for safer jobs could cost the UK as much as 90 billion pounds.

- Financial technology company Ion Group is set to win the auction for the owner of Mergermarket and Debtwire in a deal that could fetch as much as 1.2 billion pounds.

Sky News

- Virgin Atlantic has flown into the battle for struggling Thomas Cook Group Plc's airline operations by lodging a preliminary offer for the tour operator's UK long-haul business.

- Creditors of struggling department store Debenhams Plc have backed a restructuring plan which will see up to 50 stores close.

The Independent

- British defence giant BAE Systems Plc said it was working with the UK government to deliver arms contracts for Saudi Arabia after Germany extended its own ban on weapons exports to the Middle Eastern kingdom.

$1 = 0.7685 pounds Compiled by Bengaluru newsroom

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