September 4, 2018 / 11:51 PM / 8 months ago

PRESS DIGEST- British Business - Sept 5

Sept 5 (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

TSB faces an outcry over the decision to hand its departing boss 1.7 million pounds ($2.19 million) in pay and bonuses after a five-month IT disaster that at times left its five million customers without access to their money and led to a surge in financial fraud.

Bank of England Governor Mark Carney told MPs on the Treasury select committee that he was "willing to do whatever else I can to promote a smooth Brexit and an effective transition at the Bank of England".

The Guardian

John Lewis department store chain is axing 270 jobs, just as it changes its name to "John Lewis & Partners" to highlight it is owned by its employees.

The Telegraph

Star fund manager Terry Smith has unveiled plans to float an investment trust focussed on backing small and mid-cap global companies.

Mercedes has launched a new all-electric car in a bid to knock rival Tesla from its spot as market leader in the sector.

Sky News

Fenwick, the department store chain, is to shed 408 jobs as part of a cost-cutting plan following a slump in profits.

The owner of Domestic & General, CVC Capital Partners, has appointed Rothschild to advise it on an initial public offering expected to value the company at about 1.5 billion pounds.

The Independent

Viagogo has announced it is suing Ed Sheeran's promoter over alleged fraud. The controversial ticket resale company said it has issued legal proceedings against Kilimanjaro Live over the promoter's decision to cancel thousands of tickets to Sheeran's shows, which were purchased through Viagogo. ($1 = 0.7779 pounds) (Compiled by Bengaluru newsroom)

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