March 7, 2018 / 1:22 AM / 10 months ago

PRESS DIGEST- British Business - March 7

March 7 - 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

- Melrose Industries Plc is facing fierce pressure to reveal legally binding commitments to protect jobs and invest in research and development if it succeeds in its hostile takeover of GKN Plc, the aerospace and automotive group.

- BSG Resources Ltd, a mining company controlled by Beny Steinmetz, the Israeli diamond tycoon, was placed in administration on Tuesday amid an escalating legal dispute over allegations that it engaged in bribery linked with a mining project in west Africa.

The Guardian

- Retailer Debenhams Plc is in talks to rent floor space to flexible-office provider WeWork, as it looks to scale back its high street presence.

- Chancellor Philip Hammond will insist on Wednesday that Britain can overcome EU opposition and include financial services in a post-Brexit free trade deal.

The Telegraph

- Procter & Gamble Co is stepping up efforts to "take back control" from advertising agencies by investing more in internal analytics programmes – a move which will spell further trouble for ad giants WPP Plc and Publicis Groupe SA .

- Eurozone members have hit back at French plans for greater economic union in a strongly worded joint statement from finance ministers.

Sky News

- Officials from the Financial Conduct Authority met key figures from the Investment Association last month to discuss ways of assuaging their concerns about a potential London flotation of Saudi Aramco.

- J Sainsbury Plc is facing opposition to a pay shake-up it says will give its 130,000 store staff a "leading rate" in the sector.

The Independent

- UK businesses are drastically underestimating the amount of plastic packaging waste they produce while paying "barely anything" to deal with the problem, new research claims.

Compiled by Bengaluru newsroom

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