PRESS DIGEST- British Business - Dec 16
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Dec 16 (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 Telegraph
STANDARD CHARTERED FORCED BY BANK TO STRIP TOP EXEC OF RISK ROLE
The Bank of England has forced Standard Chartered to strip its finance director, Richard Meddings, of his responsibility for risk at the emerging markets-focused lender. ()
JAPAN’S SOMPO DUE TO BUY INSURER CANOPIUS
The Lloyd’s of London insurer Canopius is expected to be bought by Sompo Japan Insurance for 100 billion yen($ 969.56 million) this week. ()
ADIDAS MAY CUT SPORTS DIRECT FROM SUPPLY OF WORLD CUP 2014 FOOTBALL SHIRTS
Adidas may refuse to supply Sports Direct with Argentina, Germany and Spain football shirts ahead of the 2014 World Cup over concerns about the state of the discount retailer’s stores and customer service. ()
BIRDS EYE OWNER ASKS LENDERS FOR EXTRA BREATHING SPACE
Iglo, the debt-laden company behind Birds Eye frozen food, has asked its lenders for extra breathing space as its new chief executive, Elio Sceti, seeks to double sales by 2020. ()
The Guardian
INSURANCE FIRM RSA DENIES INVESTOR DEMAND FOR SALE
The troubled insurance firm RSA has denied that leading shareholders have demanded it put itself up for sale but admitted it was considering its options, including disposals and cost cuts. ()
VIRGIN MONEY TO ENTER CURRENT ACCOUNT MARKET
Virgin Money, the financial services company that took over Northern Rock, is expected to offer current accounts for the first time next year. ()
The Times
BOOST FOR JOHN LEWIS AS CHRISTMAS APPROACHES
Demand for sofas and carving trays helped John Lewis to post a 1.4 percent year-on-year rise in sales in the week to Dec. 14. Sales of 149.9 million pounds ($ 244.01 million) were up 12.6 percent on two years ago and an increase of 3.7 percent compared with last week’s figures. ()
FRACKERS SEEK COMIC RELIEF IN DISHING OUT BENEFIT FUNDS
The shale gas industry is in talks with the organisation that distributes donations on behalf of Sport Relief and Comic Relief to run its proposed 1.1 billion pound community benefit fund. ()
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