July 17, 2019 / 1:26 AM / 5 months ago

PRESS DIGEST- British Business - July 17

July 17 (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

- Three executives from Sarclad, a South Yorkshire-based metal manufacturer, have been cleared of bribery charges in the latest failed prosecution brought by fraud investigators. bit.ly/2xSbQ6N

- Britain's biggest trade union, Unite, has called for an inquiry into the sale and collapse of the Avlon pharmaceuticals site and has alleged that former AstraZeneca employees were the "victims of bandit capitalism". bit.ly/2xPDK3b

The Guardian

- Ryanair Holdings Plc said it will cut 30,000 flights next year owing to delayed deliveries of Boeing Co's grounded 737 Max aircraft, and warned that jobs would be affected and airport bases closed as a result. bit.ly/2xOEwNM

- The government should take a "step back" from the UK railway, which could potentially be run by a new body, said the independent chair of the rail review. bit.ly/2xOMBSC

The Telegraph

- The Competition and Markets Authority said on Tuesday that it had flagged the acquisition of Britain's largest satellite company, Inmarsat Plc, by Connect Bidco, a consortium including Warburg Pincus and Apax partners, to the government as the regulator thought the deal could have public interest concerns. bit.ly/30B73TG

- James Reed, chairman of Reed, has warned the jobs miracle and the return of real wage growth are in jeopardy as mounting no-deal Brexit fears in the City sent the pound sliding to a two-year low. bit.ly/2xLGRt5

Sky News

- Crystal Amber, a prominent activist fund, has written to De La Rue to inform it that the fund intends to requisition an extraordinary general meeting unless Chairman Philip Rogerson steps down at or before this month's annual shareholder meeting. bit.ly/2xSbAo8

- Philip Green's Arcadia said it received applications challenging its company voluntary arrangements from U.S. creditor and New York-based property group Vornado Realty Trust. bit.ly/30E9Aw3

The Independent

- Growth in UK wages accelerated between March and May, but the number of vacancies continued falling, official data showed on Tuesday. Total pay, including bonuses, increased 3.4% compared with a year earlier, while regular pay, which excludes bonuses, rose 3.6% , according to the Office for National Statistics. bit.ly/30Ak7IQ

$1 = 0.8058 pounds Compiled by Bengaluru newsroom

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