August 31, 2016 / 11:37 PM / in 2 years

PRESS DIGEST- British Business - Sept 1

Sept 1 - 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

** Record low interest rates, falling consumer prices and high employment levels have caused the largest collapse on record in Britain's saving habits, according to a GfK report.

** BHP Billiton is set to strip its chief executive of his annual bonus after the publication of a hard-hitting report into failures at the mining group's Brazilian joint venture that led to the fatal collapse of a dam.

The Guardian

** Proposals by Chris Philp, a Tory member of Parliament, to rein in executive pay by allowing remuneration packages to be vetted by shareholder committees have won the backing of Britain's most influential fund manager, Neil Woodford.

** The combined deficit of the UK's 6,000 defined benefit pension funds has grown by 100 billion pounds ($131.35 billion) in the last month, bringing the total deficit to 710 billion pounds ($932.59 billion), according to a new report.

The Telegraph

** Netflix Inc is to produce its first British children's programmes, as entertaining kids becomes a key battlefield in the intensifying pay-TV war with Amazon and Sky.

**Warren East, chief executive of Rolls Royce Holdings , warned that unless industry can make a decent return on military contracts, it will abandon them - with serious implications for the country's military industry.

Sky News

** Theresa May has ordered her senior ministers to make a success of Brexit. She has insisted there will be no second referendum or attempts to remain in the EU by the back door.

** says it is to create almost 1,000 new jobs in the next phase of its expansion. The budget airline said it wants to recruit 180 pilots, 700 cabin crew and 80 engineers and will be staging a number of roadshows for people interested over the coming weeks.

The Independent

** Extra Energy has attracted the highest number of customer complaints among energy companies for a second consecutive quarter, performing 80 times worse than the best-performing supplier, figures show.

$1 = 0.7613 pounds Compiled by Shalini Nagarajan in Bengaluru

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