October 3, 2019 / 12:05 AM / 6 months ago

PRESS DIGEST- British Business - Oct 3

Oct 3 - 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

- Vernon Hill, the millionaire founder of the struggling lender Metro Bank Plc, is to leave the board and give up his role as chairman at the end of the year. bit.ly/2nXnwDT

- Martin Gilbert ended months of speculation today by announcing that he was leaving Standard Life Aberdeen Plc ,which he created in 2017 in a controversial merger between Standard Life and his own firm Aberdeen Asset Management. bit.ly/2pwtP1P

The Guardian

- Tesco Plc chief executive, Dave Lewis, is quitting the retailer after overseeing a five-year turnaround from a financial crisis and accounting scandal that almost shredded the grocer's blue chip reputation. bit.ly/2o1ey8u

- Flutter Entertainment Plc, the owner of Paddy Power and Betfair, is to buy The Stars Group, which owns Sky Bet, in a 10 billion pounds($12.30 billion) deal which will create the world's largest online betting company by revenue. bit.ly/2pncHez

The Telegraph

- London city trader Rohan Ramchandani, acquitted of rigging the $5.3 trillion a day currency markets is suing Citigroup for $112 million, claiming the U.S. bank "quite literally fabricated" a case against him. bit.ly/2pwuwrX

- The construction industry is suffering its longest slump in more than six years as paralysed businesses hold off investing in new building work, forcing sites to cut back on workers. bit.ly/2pv2JrL

Sky News

- The United States has slapped 25% tariffs on European Union goods including single-malt Scotch whisky, French wine and Italian cheese. bit.ly/2nOzj7A

- Chinese steelmaking group Jingye, which is based in Hebei province in northern China, has approached ministers with a renewed attempt to buy British Steel amid talks over a rescue led by Turkey's military pension fund. bit.ly/2pq7yT2 ($1 = 0.8129 pounds) (Compiled by Bengaluru newsroom)

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