February 2, 2018 / 12:50 AM / 9 months ago

PRESS DIGEST- British Business - Feb 2

Feb 2 (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

- Royal Mail Plc and its main trade union have declared industrial peace with an agreement to cut working hours, a two-and-a-half-year pay settlement worth 12 percent and a groundbreaking new pension arrangement. bit.ly/2DWA716

- SIG Plc is attempting to strip several staff of their bonuses after revealing that its profits had been overstated by 6.6 million pounds over multiple years. bit.ly/2E5iqeL

The Guardian

- The UK's food regulators are launching a nationwide review of all meat cutting plants in the wake of "serious incidents" at 2 Sisters Food Group and Russell Hume. bit.ly/2E9l2Zg

- The former BHS boss Dominic Chappell has been issued with a formal demand for about 10 million pounds ($14.26 million)relating to the pension scheme of the collapsed department store chain. bit.ly/2DUhURs

The Telegraph

- Medopad, a UK healthcare startup, is planning to raise $120 million in what would be one of the largest early-stage funding rounds for a British company. bit.ly/2BO3Jrb

- Array BioPharma on Thursday sued AstraZeneca Plc , accusing the pharmaceutical company of refusing to pay required royalties for a cancer drug after entering into an $8.5 billion collaboration with Merck & Co Inc. bit.ly/2E8VKdO

Sky News

- The struggling doorstep lender Provident Financial Plc will take the unusual step on Friday of moving its acting chairman into the role of permanent chief executive. bit.ly/2FytApB

- Luke Johnson, one of Britain's most successful entrepreneurs, has hoisted a "for sale" sign over Neilson Active Holidays, the leisure business he acquired five years ago. bit.ly/2FBfsfa

The Independent

- Morrisons is to axe 1,500 shop floor workers as it becomes the latest supermarket to announce large-scale job cuts. ind.pn/2nuANk2

- Less than a week after Primera Air abruptly cancelled its planned flights from Birmingham to Boston, the airline has announced a new link from Stansted to Washington D.C. ind.pn/2GE58UT

$1 = 0.7014 pounds Compiled by Bengaluru newsroom; Editing by Sandra Maler

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