PRESS DIGEST- British Business - Aug 12
Aug 12 - 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 chief executive of Serco Group has admitted that the outsourcing specialist still faces a "bumpy" road to recovery as he announced halfway figures that feature more writedowns in the value of its assets. As part of a review, Rupert Soames is seeking to sell less profitable businesses. (thetim.es/1WgvmiR)
New Look has recorded a near 74 million pounds ($115.28 million) pre-tax loss in the first quarter, only months after the South African billionaire Christo Wiese took control of the fashion chain. The high street chain blamed the costs of a 780 million pounds takeover by Brait. (thetim.es/1WgvvCV)