November 27, 2019 / 1:10 AM / 6 months ago

PRESS DIGEST-British Business - Nov 27

Nov 27 (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

- Phil Whittingham, boss of Virgin Trains has defected to FirstGroup Plc to run the west coast main line rail franchise just before it takes over the country's most lucrative network next month.

- The Financial Conduct Authority said it would deploy a rarely used power to prohibit the promotion of complex minibonds to retail investors from January.

The Guardian

- Sean Murray, founder of the Carlauren Group Ltd, used investors' money to fund a lifestyle that included a private jet, a fleet of yachts and luxury motor vehicles, the high court heard on Tuesday.

- The Bank of England has fined the U.S. bank Citigroup Inc 44 million pounds ($56.45 million) for submitting incomplete and inaccurate regulatory information to the bank between 2014 and 2018.

The Telegraph

- Compass Group Plc is set to cut around 3,000 jobs as part of a programme to make 300 million pounds of savings over the next two years.

- Colombian billionaire Jaime Gilinski Bacal has bought a stake worth almost 15 million pounds in troubled Metro Bank Plc .

Sky News

- Bovis Homes Group is facing backlash from major institutional investors over prospective payouts to top executives as it prepares to finalise a 1.075 billion pound takeover at a shareholder meeting next week.

- Bolt is close to securing more than $100 million (78 million pounds) in new funding from Goldman Sachs Group Inc .

The Independent

- Banknote and passport maker De La Rue Plc has warned that it could collapse if a turnaround plan does not succeed.

$1 = 0.7794 pounds Compiled by Bengaluru newsroom

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