March 23, 2018 / 1:32 AM / a year ago

PRESS DIGEST- British Business - March 23

March 23 (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 Financial Ombudsman Service pledged to hold an independent inquiry into allegations of bias against consumers and claims that its staff are inadequately trained, amid fears that complaints may have been mishandled.

- Chrysaor is buying buy Spirit Energy's North Sea fields, paving the way for fresh drilling in an area earmarked for closure.

The Guardian

- The chances of a May rise in interest rates have increased sharply after two members of the Bank of England's monetary policy committee, Ian McCafferty and Michael Saunders, voted for an immediate hike in borrowing costs.

- UK's Office for National Statistics said retail sales volumes were up by 0.8 percent last month but the increase was not enough to make up for weakness of spending in December and January – two crucial months for the sector.

The Telegraph

- The founder of Toys R Us IPO-TOYS.N, Charles Lazarus, died at age 94 in New York on Thursday. He opened the first Toys R Us store in 1957.

- Iain Richards of Columbia Threadneedle hit out at Unilever's decision to abandon its double-headed structure in favour of a single corporate entity in the Netherlands.

Sky News

- Oliver Holbourn, who was appointed chief executive of UK Financial Investments in 2016 to oversee Royal Bank of Scotland Plc's return to private sector ownership, is to step down amid ongoing delays to the lender's selloff.

- Facebook Inc boss Mark Zuckerberg has said he is "open" to testifying before the U.S. Congress on the Cambridge Analytica scandal.

The Independent

- U.S. President Donald Trump has decided to exempt the EU – which includes Britain – and other allies from the recently announced steel and aluminium tariffs.

Compiled by Bengaluru newsroom

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