August 25, 2017 / 12:31 AM / a year ago

PRESS DIGEST- British Business - Aug 25

Aug 25 (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

- Reports that German prosecutors are investigating executives at South African retail group Steinhoff over allegations of accounting fraud sent its shares tumbling by as much as 14 per cent yesterday.

- The Department for Communities and Local Government said that 164,960 new homes were started in the year to June 2017, up 13 per cent on the previous year, and the highest rolling annual total since 2008.

The Guardian

- Bell Pottinger will be given a "disciplinary sanction" by the UK's public relations trade body over allegations that the leading PR firm ran a secret campaign to stir up racial tension in South Africa on behalf of its billionaire clients.

- More than 2 million people in the UK are either problem gamblers or at risk of addiction, according to the industry regulator, which warned that the government and industry were not doing enough to tackle the problem.

The Telegraph

- Inc's assault on Britain's supermarkets will begin sooner than expected after its 10.7 billion pound ($13.70 billion) takeover of upmarket food retailer Whole Foods Market Inc cleared without a hitch this week.

- Ayman Asfari, the long-time boss of Petrofac Ltd, has been fined 300,000 euros ($354,060.00) and banned from holding an administrative role in any Italian company for 12 months by the Italian National Commission for Companies and the Stock Exchange (Consob), amid allegations of insider trading.

Sky News

- A new public register that will name and shame listed companies whose investors revolt over boardroom pay will be proposed next week as ministers seek to rebut criticism that they have watered down the tough approach promised by Theresa May.

- SHB Realisations -- the name used by BHS in liquidation -- has dropped a legal claim filed at the High Court earlier this month against the tycoon's Arcadia Group.

The Independent

- The UK economy grew at half the rate of the eurozone's during the second quarter of the year, as a Brexit-fuelled jump in inflation dealt a sharp blow to consumer spending. A second reading of official figures from the Office for National Statistics showed on Thursday that the UK economy expanded by 0.3 per cent in the three months to the end of June.

- Shares in Dixons Carphone plummeted on Thursday after the company slashed its full-year profit forecast blaming tough market conditions.

$1 = 0.7811 pounds $1 = 0.8473 euros Compiled by Bengaluru newsroom; Editing by Sandra Maler

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