June 5, 2019 / 12:44 AM / a year ago

PRESS DIGEST- British Business - June 5

June 5 (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

Kent County Council informed British investor Neil Woodford's firm on Friday that it would seek to redeem its pension fund investment of about 250 million pounds in the Woodford Equity Income Fund with "immediate effect" and began to make arrangements on Monday. bit.ly/2wBYVW3

British subprime lender Non-Standard Finance Plc's 1.1 billion pound ($1.40 billion) hostile takeover for Provident Financial, its bigger rival, collapsed last night after a decision to block the deal by the financial regulator. bit.ly/2WoPCIl

The Guardian

Sainsbury's boss Mike Coupe received an increase in pay of 251,000 pounds despite the collapse of a planned merger with Asda. bit.ly/2wyPEOq

The former boss of John Lewis has said online retailers such as Amazon Inc should pay more tax and that a solution for struggling town centres would be to turn them into "free trade zones." bit.ly/2Xm674d

The Telegraph

Spain's Banco Santander will slash around 200 UK jobs in an attempt to focus on cost savings in Europe and pursue higher profitability in Latin America. bit.ly/2Kp8Mq2

Britain must become a world leader in communications and technology in order to beat Huawei Technologies Co Ltd and avoid dependency on foreign states, according to Tory leadership candidate Matt Hancock. bit.ly/2InOfzt

Sky News

British retail businessman Philip Green has handed another 25 million pounds to Arcadia's pension scheme in an eleventh-hour deal that improves his chances of averting the collapse into administration of his Top Shop empire. bit.ly/2Kxf2fL

The Independent

The UK government has admitted a state pension data blunder resulting in 360,000 people given wrong forecasts. ind.pn/2MpBtpw

$1 = 0.7873 pounds Compiled by Bengaluru newsroom; Editing by Sandra Maler

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