November 19, 2019 / 1:37 AM / 7 months ago

PRESS DIGEST- British Business - Nov 19

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 702 partners at accountancy firm EY received average pay of 679,000 pounds this year to the end of June, down 2% from the prior year, despite its British business making record revenues.

Swedish pharmaceutical group Recipharm AB on Monday said it will buy UK rival Consort Medical Plc for a 505 million pound deal.

The Guardian

British Prime Minister Boris Johnson told business leaders that he will shelve a plan to cut corporation tax from 19% to 17%, adding he would put 6 billion pounds ($7.77 billion)into public services instead.

British Pawnbroker H & T Group Plc has suspended its unsecured cash loans business and warned that it might have to pay compensation to customers as the Financial Conduct Authority reviews its operations.

The Telegraph

FirstGroup Plc has suffered a double attack from property baron Robert Tchenguiz and Coast Capital Management after the investors demanded the rail and bus operator immediately begin a formal sale of U.S. assets.

Fund managers M&G Plc and Ruffer have held discussions with former Eddie Stobart Logistics CEO Andrew Tinkler hoping they will sign a deal to inject 50 million pounds into the ailing trucking firm.

Sky News

The crisis that left 2 million TSB Bank customers without current account access last year is partly blamed on a failure to test one of its new data centres, according to a report due to be published on Tuesday by law firm Slaughter and May.

$1 = 0.7722 pounds Compiled by Bengaluru newsroom

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