July 25, 2019 / 1:14 AM / 2 months ago

PRESS DIGEST- British Business - July 25

July 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

- The Financial Conduct Authority should consider compensating people mis-sold loans by Lendy, the failed peer-to-peer business, according to Lord Myners, the former City minister. bit.ly/2MdxjPO

- The British Retail Consortium said the number of employees in the retail industry dropped 2.3% in the second quarter of the year compared with the same period in 2018. It marked the 14th consecutive quarter of year-on-year decline. bit.ly/2McYwlN

The Guardian

- Caledonian Sleeper staff have voted for strike action, claiming “intolerable” and “appalling” working conditions after the botched rollout of the company's 150 million pound ($187.25 million) fleet of sleek trains. bit.ly/2y9qSFf

- Facebook Inc will pay a record $5 billion penalty in the United States for “deceiving” users about their ability to keep personal information private, after a year-long investigation into the Cambridge Analytica data breach. bit.ly/2ykZ15j

The Telegraph

- High street banks dished out more than 50 billion pounds of mortgages to homebuyers in the first half of the year, putting the lenders on track for their biggest year since 2007, according to data from industry group UK Finance. bit.ly/2yamB4u

- Metro Bank Plc said on Wednesday it has started searching for a new chairman to replace Vernon Hill, following months of criticism in the wake of a major loans gaffe. bit.ly/2yanEBs

Sky News

- KPMG is to cease auditing a quarter of Britain's building societies as it seeks to reduce its exposure to a financial services sector that has been the source of millions of pounds in fines imposed on the firm. bit.ly/2y6iPcq

- Uber Technologies Inc and Ola, the Indian ride-hailing app, have expressed an interest in acquiring Addison Lee Group, potentially opening a new competitive front in one of the world's largest private taxi-hire markets. bit.ly/2ydcuM4

The Independent

- Sajid Javid on Wednesday was appointed as chancellor, with Brexiteers Priti Patel and Dominic Raab returning to the cabinet as home secretary and foreign secretary. bit.ly/2M6lRpg

$1 = 0.8011 pounds Compiled by Bengaluru newsroom

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