May 11, 2018 / 12:42 AM / a year ago

PRESS DIGEST- British Business - May 11

May 11 (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

Investors in SIG Plc have overwhelmingly rejected the reappointment of Deloitte as its auditor in a rare shareholder rebellion only months after it was revealed that SIG had exaggerated its profits for years.

Royal Bank of Scotland Group Plc has hailed a tentative $4.9 billion settlement with U.S. prosecutors over its sale of toxic mortgage-backed securities as a "major milestone" in its decade-long recovery.

The Guardian

BT Group Plc is to axe about 13,000 jobs over the next three years and move out of its central London headquarters as it seeks to cut 1.5 billion pounds ($2.03 billion) in costs after a torrid 18 months.

Apple Inc is scrapping plans for an 850 million euros ($1.01 billion) data centre in Ireland after three years of planning approval delays, the company said.

The Telegraph

Apple Inc and Goldman Sachs Group Inc are planning to launch a joint credit card under the 'Apple Pay' brand next year, in a further potential major disruption to traditional high street banks.

The Ministry of Defence's refusal to admit to a 21 billion pound black hole is putting Britain's national security at risk and making it impossible for arms companies to plan for what the military can actually afford.

Sky News

The Bank of England has left interest rates on hold at 0.5 per cent and slashed its forecast for economic growth this year, but warned that borrowing costs may still have to rise in the coming months.

The online estate agents eMoov and Tepilo are in talks about a ‎merger that would pave the way for the creation of a publicly quoted rival to Purplebricks Group Plc , the industry leader.

The Independent

Homebuilding firm Bovis Homes Group Plc is at the centre of a new row after an investigation found that some customers had allegedly been offered rewards in return for completing positive satisfaction surveys.

$1 = 0.8394 euros $1 = 0.7398 pounds Compiled by Bengaluru newsroom

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