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PRESS DIGEST- British Business - Sept 26

Published 26/09/2016, 10:19 am
© Reuters. PRESS DIGEST- British Business - Sept 26
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Sept 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

- Delancey, a company chaired by John Ritblat is suing China's largest property developer Greenland Group's UK division over claims that it has reneged on an agreement made as part of a high profile deal in London. The European Commission is expected to respond to competition concerns by launching an inquiry this week into the 22 billion pounds ($28.54 billion) merger between the London Stock Exchange Group Plc LSE.L and Deutsche Boerse AG DB1Gn.DE . Guardian

- BHS is poised to make a comeback as an online retailer just one month after the brand closed its last remaining high-street store. The business will be relaunched on Thursday, selling lighting and home furnishing products before adding clothing lines and kitchen and dining ranges over the coming weeks. Britain's biggest independent co-op has made the highest single payout to a worker for breaching low pay laws, 14,000 pounds, and is examining whether 200 others may have been paid below the minimum wage, the Guardian can reveal. Telegraph

- Exetel, an Australian "challenger" broadband firm, has vowed to shake up Britain's telecoms market when it launches in the UK this week with cheap fibre internet and data services aimed at small businesses. UK's decision to leave the EU will not dent growth at all this year, according to economic forecasts compiled by the Treasury, in a complete reversal of the gloomy short term forecasts made after the EU referendum. News

- Zak Brown, chief executive of CSM Sport & Entertainment, is quitting the role at the end of the year amid suggestions that he could play a key role in the running of Formula One motor racing after it completes a 6.4 billion pounds takeover. Sebastian Grigg, a vice-chairman of Credit Suisse Group AG's CSGN.S investment bank and one of its most senior European employees, resigned late last week to strike out on his own, Sky News understands. Independent

- Jeremy Corbyn is preparing to tighten his stranglehold over Labour by appointing his own shadow cabinet and cementing his control over the party's ruling executive. http://ind.pn/2cwZPv2

($1 = 0.7708 pounds)

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