11 de agosto de 2015 / 23:50 / hace 2 años

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 Times

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)

The Guardian

The Co-operative Bank has been spared a 120 million pounds fine by City regulators even though they found the bank had misled investors and pursued growth at the expense of its financial stability in the run-up to its near-collapse two years ago. Even as the bank escaped a fine to preserve its financial health, the regulators said they were still continuing to investigate individuals associated with the bank. (bit.ly/1WguA5s)

British Governor Mark Carney has told the government that the Bank of England is to examine whether policies intended to strengthen financial stability in the economy have held back economic growth. (bit.ly/1WgwFhK)

The Telegraph

Just Retirement Group and Partnership Assurance , the two biggest London-listed annuity specialists, have agreed to merge in an all-share deal. Just Retirement's investors will own 60 percent of the company, while Partnership's shareholders will take 40 percent of the 1.7 billion pounds group. (bit.ly/1MmRDZn)

Remortgaging soared in June as homeowners and landlords raced to lock in low interest rates before the Bank of England increases the cost of borrowing. With a rate rise looking increasingly likely in the next six months, the value of remortgages jumped 34 percent to 5.1 billion pounds in June, according to the Council of Mortgage lenders. (bit.ly/1gwkZXu)

Sky News

Moneycorp, the UK-based foreign currency provider, will on Wednesday announce that it is acquiring a stake in one of Brazil's fastest-growing foreign exchange businesses. Moneycorp will announce that it is buying a minority shareholding in Novo Mundo Corretora de Cambio, subject to local regulatory approval. (bit.ly/1WgtmHo)

Ladbrokes Plc has reported a 51.4 million pounds loss for the first half of 2015, following on from dozens of shop closures in the UK and Ireland. The bookmaker warned current profits were being hit by a "need to reset the business and invest". (bit.ly/1WgtsPj)

($1 = 0.6419 pounds)

Compiled by Mansi Goenka in Bengaluru

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