July 12, 2017 / 11:42 PM / a year ago

PRESS DIGEST- British Business - July 13

July 13 (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

** Premier Oil Plc and its partners have announced a "world class" discovery of up to two billion barrels of oil off the coast of Mexico. (bit.ly/2tfG9j6)

** Burberry Group Plc said that its comparable sales were up 4 percent in the three months to June 30 after sales in mainland China and across the Asia Pacific improved. (bit.ly/2sRqlnn)

The Guardian

** The Bank of England should resist increasing interest rates while the direction of the economy remains unclear, according to one of the central bank's senior policymakers, an announcement that reduces the chances of a rate hike this year. (bit.ly/2uSSnjG)

** Irish business leaders have called for a 1 billion euro ($1.14 billion) state aid programme to guard against Brexit disruption, in the event that the UK quits the customs union. (bit.ly/2t5ccXu)

The Telegraph

** Oil and gas explorer Ophir Energy Plc will slash 15 percent of its global workforce to cut costs in the face of tough trading conditions for the oil sector. (bit.ly/2u8yjMM)

** The UK's competition watchdog has warned that Tesco Plc's 3.7 billion pound ($4.77 billion) takeover of cash and carry group Booker Group Plc could damage competition in 350 neighbourhoods, prompting a full-scale investigation into the deal. (bit.ly/2ufA2iG)

Sky News

** The billionaire tycoon Mike Ashley has added a 25 percent stake in the video games retailer Game Digital Plc to a high street shopping list that also includes Debenhams Plc and French Connection Group Plc. (bit.ly/2sREwZh)

** Ofgem is planning tougher price controls for gas and electricity distribution companies amid claims they have been making billions in excess profits - paid for by consumers. (bit.ly/2tggzKy)

The Independent

** Royal Bank of Scotland Group Plc has agreed to pay a $5.5 billion fine to U.S. authorities over its sales of sub-prime mortgage bonds in the lead-up to the financial crisis. (ind.pn/2vc8hoC)

** Wage growth disappointed again in May, according to the latest official data, spelling another fall in real-terms pay for British workers ahead of Brexit. According to the Office for National Statistics, average nominal pay was up just 1.8 percent year-on-year in the month. (ind.pn/2tdjqUG)

$1 = 0.8760 euros $1 = 0.7759 pounds Compiled by Bengaluru newsroom; Editing by Richard Chang

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