May 22, 2019 / 1:44 AM / a year ago

PRESS DIGEST- British Business - May 22

May 22 (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

The Organisation for Economic Co-operation and Development said that a no-deal Brexit remained a significant risk to the global economy and that the present elevated levels of uncertainty were taking a toll on Britain in particular, where business investment has stalled.

The Financial Reporting Council, the UK's accounting watchdog, said that KPMG could face a record 12.5 million pound ($16 million) fine for misconduct after signing off on accounts for the world's largest custodian bank BNY Mellon, despite its failure to keep customers' money safe during the financial crisis.

The Guardian

The Confederation of British Industry said its industrial trends monitor for May showed that without an agreement with the European Union, the manufacturing sector was gripped by "economic paralysis" and moving "ever closer to disaster".

Investment scams involving cryptocurrencies such as bitcoin and foreign currency trading have tripled in a year, with the average victim losing £14,600, according to the UK's Financial Conduct Authority.

The Telegraph

Jamie Oliver provided personal guarantees to HSBC and distributor Brakes after a previous restructuring of Jamie Oliver Restaurant Group, allowing them to claim against him personally for any unpaid bills, the Daily Telegraph understands.

WH Smith PLC's Chief Executive Officer Stephen Clarke is stepping down at the end of October after trebling the company's share price since taking the helm six years ago despite the wider retail slowdown.

Sky News

British minister Andrew Stephenson told MPs he could offer reassurances that ministers will leave "no stone unturned" in supporting the UK steel industry, as the country's second largest producer British Steel teeters on the brink of collapse.

British Environment Secretary Michael Gove is taking action on plastic pollution by banning plastic straws, stirrers and cotton buds in England from April 2020 after a consultation revealed "overwhelming" public support for the move.

The Independent

Virgin Atlantic Airways Ltd is relaunching its link from Heathrow to Mumbai, becoming the latest airline to seek to capitalise on the grounding of Indian carrier Jet Airways Ltd . ($1 = 0.7871 pounds) (Compiled by Bengaluru newsroom; Editing by Sandra Maler)

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