March 20, 2018 / 1:17 AM / a year ago

PRESS DIGEST- British Business - March 20

March 20 (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

- Cutting trade tariffs completely when leaving the European Union would reduce prices in British shops by only 1.2 percent, the Institute for Fiscal Studies, a think tank, said.

- Britain's property market is braced for a takeover battle for Hammerson Plc after the shopping centre owner confirmed it had received a 4.9 billion pound ($6.87 billion)takeover approach from a French rival Klépierre SA .

The Guardian

- Snap Inc's Snapchat is so popular in Britain that its advertising revenue will overtake Twitter's UK revenue in 2019, and revenue from consumer magazine and cinema advertising within two years according to eMarketer, a market research company.

- The housebuilder Persimmon Plc paid its Chief Executive, Jeff Fairburn, and two other executives a combined 104 million pounds last year.

The Telegraph

- New York-based Sherborne Investors, led by British-born Edward Bramson, has taken a 5 percent stake in Barclays Plc .

- The Gambling Commission recommended setting the maximum stake for fixed odds betting terminals at 30 pounds, a higher cap than campaigners had sought, and 10 pounds more than what many in the industry had privately predicted, sending the share prices of British bookmakers up.

Sky News

- The state-backed Royal Bank of Scotland is working on secret plans to create a standalone digital bank to compete with emerging British fintech champions including Monzo and Revolut.

- Hershey Co, the U.S. confectionery giant, is at the early stages of exploring options for the British crisps brand Tyrrells.

The Independent

- The Financial Reporting Council, UK's accountancy watchdog has launched an investigation into two former finance directors of collapsed construction firm Carillion Plc.

- Running a car has become more than a third more expensive in one year for the poorest families, new figures show. The UK's one million car-owning households in the lowest 10 percent disposable income bracket spent an average of 58.20 pounds per week on motoring in 2016/17, according to the RAC Foundation.

$1 = 0.7129 pounds Compiled by Bengaluru newsroom; Editing by Lisa Shumaker

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