Press Digest: British Business - May 3

C banner International Holdings

03/05/2018 24:52

May 3 (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
    Some of Britain's largest companies have been hit by revolts
over pay as investors register their anger at awards to
executives that many still believe are excessive. http://bit.ly/2rhvs0n
    
    Mark Mobius is to raise $1 billion for a new asset
management firm based in London, despite widespread concerns
about how Brexit will affect the UK fund management industry. http://bit.ly/2rhftj0
    
    The Guardian
    The chief executive of TSB Bank will forfeit a 2 million
pound ($2.72 million) bonus payment in the light of an IT
failure that left thousands of their customers locked out of
their accounts, as MPs accused the bank boss of being
"extraordinarily complacent". http://bit.ly/2rj0nt0
    
    SCL Group and its Cambridge Analytica consultancy, which
were at the centre of this year's Facebook privacy row, are
closing and starting insolvency proceedings. http://bit.ly/2rhgSGl
    
    The Telegraph
    Mike Ashley's Sports Direct  SPD.L  has revived its battle
with former Labour MP Iain Wright by lodging a complaint over
his handling of a Parliamentary inquiry into the retailer's
working practices. http://bit.ly/2riZgcO
    
    The chief executive of Sage Group  SGE.L , Britain's biggest
software group, has dismissed 30 executives in a cull of its
senior ranks following a damaging slowdown in sales. http://bit.ly/2rgVBfD
    
    Sky News
    House of Fraser has confirmed it is to launch a
restructuring plan that will mean a round of store closures as
part of a deal which will see the Chinese owner of Hamleys take
a major stake. http://bit.ly/2rl0STM
    
    ‎Wasps Holdings will announce on Thursday that it intends to
appoint Mazars, an accountancy firm, in place of
PricewaterhouseCoopers after PwC disclosed that earnings for the
year to 30 June 2017 had been overstated by almost 50 percent. http://bit.ly/2rfd8EY
    
    The Independent
    The Purchasing Managers' Index (PMI) went back into positive
territory in the month with a reading of 52.5, up from 47 in
March, a 20-month low, when snow massively disrupted activity. https://ind.pn/2riYMU2
    
    Millions of travellers preparing for their Bank Holiday
weekend journeys in the UK and France face a range of obstacles
from strikes to now-traditional rail engineering works. https://ind.pn/2rfuOk0
    
    
($1 = 0.7366 pounds)

 (Compiled by Bengaluru newsroom)
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