May 15, 2019 / 12:57 AM / 7 months ago

PRESS DIGEST- British Business - May 15

May 15 (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

The owner of Richer Sounds is to hand control of the television and hi-fi retailer to a John Lewis-style employee trust, which will generate a £3.5 million ($4.52 million) windfall for staff.

Standard Life Aberdeen PLC has suffered a substantial shareholder rebellion over plans to offer its incoming chief financial officer free shares worth up to £750,000 ($967,950) in one of the biggest pay revolts at a FTSE 100 company this year.

The Guardian

British Steel is seeking emergency funds from the government, blaming politicians' failure to strike a Brexit deal for a crisis that leaves one of the UK's last two steelworks, and 4,500 staff, facing an uncertain future. The BBC has dramatically increased the number of women who appear on its programmes in the space of just one year, by challenging staff to monitor the gender balance of guests.

The Telegraph

Another influential advisory group has told Metro Bank's shareholders to vote against founder Vernon Hill's re-election next week as the troubled lender fights to restore its reputation.

Sky News

Ministers are drawing up secret contingency plans for the collapse of British Steel amid a fresh funding crisis that could trigger thousands of job losses at its plant in Scunthorpe and intensify fears about the entire industry's future. Christian Nellemann is working with bankers at Lazard on an auction process for XLN, a London-based business which supplies phone lines, broadband, mobile and energy to small business customers.

The Independent

Despite growing worldwide concerns about the environmental impact of aviation, Britain's second-busiest airport, Gatwick, is on course for a record-breaking year, and to add half as many passengers again without building a new runway. The plan was confirmed by the new owner of the Sussex hub, Vinci. ($1 = 0.7748 pounds) (Compiled by Bengaluru newsroom; Editing by Sandra Maler)

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