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PRESS DIGEST- British Business - June 15
June 14, 2017 / 11:41 PM / 6 months ago

PRESS DIGEST- British Business - June 15

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

* Most skilled workers from the EU who are employed by large companies are likely to leave the UK before Brexit, according to a survey by Baker McKenzie.

* The chief executive of News Corporation accused Google and Amazon of doctoring search results for commercial gain and said their deliberate manipulation of search algorithms amounted to a "charlatan's charter".

The Guardian

* Netflix and Amazon are set to overtake the cinema multiplex after a report by PwC predicted that revenues from streaming film and TV shows in the UK will exceed box office takings by 2020.

* The Duke of Westminster's property group, Grosvenor Group, is to build 1,500 rental homes in south-east London, one of the capital's biggest "build to rent" developments.

The Telegraph

* Accountancy firms have been warned of a gap in quality between their audits of big businesses and those of smaller firms, which are increasingly flawed, according to the Financial Reporting Council.

* Nick Hugh has been named as the new chief executive officer of Telegraph Media Group, taking over from Murdoch MacLennan who has run the publisher of The Daily Telegraph and The Sunday Telegraph since 2004.

Sky News

* Expectations have grown among a number of current and former Barclays executives that the SFO plans to charge both the bank and several individuals in connection with the inquiry, which has focused on arrangements struck with a Qatari sovereign wealth fund in 2008, according to Sky News.

* Pay growth has slowed sharply to a weaker-than-expected 1.7 percent, tightening the squeeze on households as inflation turns higher, official figures show.

The Independent

* The UK Government handed Shell a 112 million pound ($142.83 million) tax rebate last year, despite the oil giant making billions of pounds in profits. Most of the payment from HM Revenue and Customs is a contribution towards Shell's costs for decommissioning its North Sea oil and gas fields.

* The EU has launched antitrust investigations into Nike , Universal Studios and Sanrio Co Ltd, owner of the Hello Kitty brand, over their licensing and distribution practices within the single market.

$1 = 0.7841 pounds Compiled by Bengaluru newsroom

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