October 25, 2018 / 12:43 AM / 9 months ago

PRESS DIGEST- British Business - Oct 25

Oct 25 (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

Osman Shahenshah and Shahid Ullah, the former Chief Executive and Chief Operating Officer respectively of Afren, were found guilty of fraud and money-laundering offences for deceiving the British company's board into agreeing a deal valued at more than 230 million pound ($296.29 million). bit.ly/2AqfoPB

Kweku Adoboli, a former trader at the Swiss bank UBS Group AG may be forced to return to Ghana after a court upheld a decision to deport him.bit.ly/2ApRYtQ

The Guardian

Debenhams Plc will on Thursday confirm plans to shut up to 50 stores, nearly a third of the UK-wide chain, putting up to 5,000 jobs at risk. The struggling department store is also expected to unveil a 500 million pound annual loss as it writes off the value of its brand and the cost of unwanted shop leases and IT systems. bit.ly/2PXAU3P

The number of cars built in the UK slumped again year-on-year last month, as global trade tensions and concerns over the shape of Brexit and the future of diesel vehicles took their toll, according to the Society of Motor Manufacturers and Traders. bit.ly/2Jes7I7

The Telegraph

The High Court has dismissed a winding-up order that threatened the existence of stricken coffee chain Patisserie Valerie, but the company has been forced to open a probe into discrepancies relating multimillion-pound bonuses handed out to top executives. bit.ly/2PTKVyS

WPP Plc, the world's largest advertising company, is preparing to sell a stake in Kantar, its data investment management division. bit.ly/2PTIpbE

Sky News

Famous Brands has appointed accountancy firm Grant Thornton to initiate the CVA, an insolvency procedure increasingly being used by under-performing firms to cut failing branches from their chains. bit.ly/2PV4uqC

Bath-headquartered Independent Vetcare Group is seeking offers in the coming weeks that would herald a change of ownership for more than 300 practices across the UK. bit.ly/2As6AZF

The Independent

Flights and trains between the UK and the European Union after Brexit look increasingly in jeopardy, the Department for Transport has said. ind.pn/2Ar6elZ

More than 20,000 customers left TSB in the wake of an IT meltdown, figures show. ind.pn/2PYULzC

$1 = 0.7763 pounds Compiled by Bengaluru newsroom; Editing by Sandra Maler

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