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PRESS DIGEST- British Business - March 21

Published 21/03/2019, 11:59 am
Updated 21/03/2019, 12:00 pm
© Reuters.  PRESS DIGEST- British Business - March 21

March 21 (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

Australian copper group Aeris Resources AIS.AX is in talks to buy a mine from Glencore Plc GLEN.L for $575 million, as the commodities giant seeks to raise $1 billion through asset sales. services firm EY said in a report that 23 financial services companies are planning to move their investments, stock and other assets out of the UK to shield themselves from the consequences of a damaging Brexit. Guardian

Britain's manufacturers are in despair at the failure of politicians to end the Brexit impasse, according to the Confederation of British Industry, which reported a drop in output in March as businesses cut back production. Plc SDRY.L founder Julian Dunkerton's ambition to return to the fashion brand was dealt a blow on Wednesday when two leading shareholder advisory groups came out against his reappointment. Telegraph

A government attempt to reboot the UK car industry after a blizzard of bad news has stalled due to the turmoil in Westminster surrounding Brexit. boss of Lloyds Banking Group LLOY.L has been accused of making an "insulting" sacrifice by agreeing to cap his pension payout and remained in the firing line on Wednesday after staff union Affinity said the move shaved only a few thousand pounds off his pay packet. News

Toyota Motor Corp 7203.T will make hybrid electric vehicles on behalf of Suzuki Motor Corp 7269.T at its Burnaston plant in Derbyshire, with engines from its Deeside site in North Wales. owner Kingfisher Plc KGF.L says it is looking for a new boss after reporting a 53 percent fall in profits and acknowledging that UK economic weakness and problems in France have hit turnaround plans. Independent

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UK's National Audit Office on Wednesday said regulators covering water, telecoms, energy and financial services could not prove that they were effective at responding to consumers' concerns. https://ind.pn/2TNQlRT

Google (NASDAQ:GOOGL) has been fined 1.5 billion euro ($1.71 billion) by EU regulators for stifling competition in the online advertising market. The European Commission said Google abused its position to stifle innovation by restricting websites' ability to display adverts from rival brokers. https://ind.pn/2TMmTfb

($1 = 0.8753 euros)

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