September 5, 2019 / 12:50 AM / 3 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

- Britain's economy will not be as badly damaged by a worst-case scenario Brexit as feared, due to preparations made by several sectors, according to the Bank of England.

- A leading member of the Cobham Plc family has stepped up her attempts to block the 4 billion pounds ($4.91 billion) sale of the defence and aerospace company by contacting leading shareholders.

The Guardian

- Royal Bank of Scotland Group Plc has warned it could be hit with a further 900 million pounds bill for mis-sold payment protection insurance (PPI) after apparently being caught out by a last-minute surge in claims.

- The British Retail Consortium have warned that there will be shortages of fresh food coupled with potential price rises if there is a no-deal Brexit.

The Telegraph

- Jamie Drummond-Smith stepped down as interim chairman of Arcadia, which owns Sir Philip Green's stable of brands, after he was drafted in six months ago to help with the company's restructuring plan.

- British finance minister Sajid Javid declared "the end of austerity" and announced a 13.8 billion pounds spending spree that the chancellor said shifts the economy "from a decade of recovery to a decade of renewal".

Sky News

- British Prime Minister Boris Johnson has lost a bid to call an early general election to break the Brexit deadlock.

- Gavin Patterson, former chief executive of BT Group Plc , will be named as Salesforce.Com Inc's EMEA chairman on Thursday.

The Independent

- British pilots employed by Ryanair Holdings Plc who are members of the British Airline Pilots' Association (BALPA) have announced another seven days of strikes.

$1 = 0.8145 pounds Compiled by Bengaluru newsroom

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