August 8, 2019 / 11:58 PM / 5 months ago

PRESS DIGEST- British Business - Aug 9

Aug 9 (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

UK Cabinet minister Jacob Rees-Mogg appears to be in line for a 1 million pound ($1.21 million) payday after Somerset Capital Management, the fund management group he co-founded, reported healthy profits in spite of difficult market conditions.

One of the co-founders of Funding Circle Holdings Plc , James Meekings is to step down from running the peer-to-peer lender's UK arm a year after its disastrous flotation and will take up a non-executive role by the end of next month, Funding Circle said.

The Guardian

Prime Minister Boris Johnson's government will rush through a one-year spending review next month in order to honour pledges on police numbers, schools and the National Health Service(NHS).

The UK government is close to entering exclusive talks with a Turkish military pension fund about the sale of British Steel, raising hopes that more than 4,000 jobs and the Scunthorpe steelworks can be saved.

The Telegraph

The Serious Fraud Office has increased the stakes of a high-profile case against three former Barclays Plc executives by adding an extra fraud charge which centres around two emergency fundraisings that Barclays secured with Qatar when the UK banking system was on the brink of collapse in 2008.

The war of words between Burford Capital Ltd and short seller Muddy Waters escalated on Thursday after the litigation funder called a report issued by the U.S. firm earlier this week "false and misleading".

Sky News

Nationwide Building Society has been ordered to refund over 320,000 personal current account customers for failings on overdraft charges.

Hargreaves Lansdown Plc's chief executive has again called on Neil Woodford to stop charging fees for investors trapped in his suspended fund.

The Independent

Hundreds of shops are being converted into restaurants and takeaways as disruption from online retailers and food delivery apps rapidly changes the look of UK high streets, new figures suggest.

The UK housing market is stuck in a holding pattern as buyers wait for more clarity on Brexit before committing to a purchase that could prove unwise if Britain crashes out of the European Union in October. ($1 = 0.8240 pounds) (Compiled by Bengaluru newsroom; Editing by Sandra Maler)

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