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PRESS DIGEST- British Business - Aug 26

Published 26/08/2015, 10:14 am
© Reuters.  PRESS DIGEST- British Business - Aug 26
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Aug 26 (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

* BHP Billiton Plc BLT.L , in its first results since spinning off its less-favoured mines and plants into a company called South32 Ltd S32.AX , revealed its sharpest fall in annual profit in more than a decade, down by 62 percent to 8.7 billion pounds ($13.65 billion). (http://thetim.es/1Lzb6pD)

* Stephen Hester would almost certainly resign as chief executive of RSA Insurance Group Plc RSA.L if the country's biggest commercial insurer agrees to a 5.6 billion pound takeover by Zurich Insurance Group AG ZURN.VX . (http://thetim.es/1Ie0tB4)

The Guardian

* BBC Director General Tony Hall has warned that further cuts to the corporation's funding and remit could result in more than 30,000 job losses across the TV industry. (http://bit.ly/1JY6hGa)

* The competition watchdog has provisionally cleared Poundland Group Plc's PLND.L 55 million pound takeover of its rival single-price retailer, 99p Stores, arguing that there are enough value chains vying for customers to allow the deal. (http://bit.ly/1MKv3bV)

The Telegraph

* The chief executive of Blinkx Plc BLNX.L has suffered a major shareholder rebellion just a day after the company's shares slumped on a profits warning. (http://bit.ly/1hEZcyb)

* Fastjet Plc FJET.L , the budget airline that aspires to become a pan-African carrier, has passed a major milestone and struck a deal to buy its first plane. (http://bit.ly/1Pxcln4)

Sky News

* A long-term "impairment" in China's growth rates would have "very significant implications" for the global economy, according to Martin Sorrell, chief executive of WPP Plc WPP.L (http://bit.ly/1JYi6fE).

($1 = 0.6373 pounds)

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