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PRESS DIGEST- British Business - Jan 19

Published 19/01/2016, 11:34 am
© Reuters.  PRESS DIGEST- British Business - Jan 19
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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

* National Australia Bank NAB.AX hopes to sell its British branches for as much as 2 billion pounds ($2.85 billion), despite concerns that recent market falls might have made floating the business more difficult than had been first thought.

* The steel industry, trade unions and opposition MPs have rounded on the government after Tata Steel TISC.NS confirmed 1,050 more redundancies, taking the job toll in the industry to more than 6,000 in the past six months.

The Guardian

* The appetite of western consumers for home furnishings has reached its peak according to Ikea, the world's largest furniture retailer. Asda is cutting about 200 jobs at its head office in Leeds after the supermarket endured a tough Christmas trading season.

Telegraph

* The UK Government's ambition of doubling UK exports to 1 trillion pounds ($1.42 trillion) by 2020 is a "big stretch", admits Francis Maude, UK's minister of state of trade. UK's economy would be in better shape if the Bank of England BKENG.UL had slashed its rates into negative territory during the crisis, according to Gertjan Vlieghe, the newest member of the Bank's nine-strong committee of interest rate setters. News

* UK's Financial Reporting Council will decide this week whether to launch a formal inquiry into the auditing of HBOS HALp.L , according to Sky News. Homebase owner Home Retail Group HOME.L has confirmed it has reached a sale agreement with Australian retail giant Wesfarmers WES.AX . Independent

* MI5 has been named as Britain's most advanced and inclusive employer when it comes to ensuring the nurturing and development of its lesbian, gay, bisexual and transgender employees, according to a workplace equality index by Stonewall.

* BT BT.L is creating 1,000 new customer service jobs in the UK as part of an 80 million pounds ($113.98 million) investment to boost performance and restore its reputation after being criticised for poor customer service.

($1 = 0.7019 pounds)

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