PRESS DIGEST- British Business - Jan 5
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
* Sports Direct said on Monday that Michael Murray had a "consultancy arrangement" with the group and that he was not paid a salary and had not been appointed a director of any company within Sports Direct. (http://thetim.es/1O1zsqW)
* Olaf Swantee, Chief Executive of EE Ltd (IPO-EEL.L) will stand down after its 12.5 billion pounds ($18.39 billion) sale to BT has been completed. (http://thetim.es/1O1BiI9)
The Guardian
* Around $27 billion was paid out by insurers for natural disaster claims last year, with weather causing 94 pct of incidents, according to data from reinsurer Munich Re. (http://bit.ly/1O1BBCL)
* UK factories entered 2016 in a "state of near stagnation" following a decline in output growth and new orders during December, according to Chartered Institute of Procurement and Supply/Markit purchasing managers' index survey. (http://bit.ly/1O1BZRG)
The Telegraph
* The Treasury's top civil servant, Sir Nicholas Macpherson, is set to stand down in April, having led the Government department for over a decade. (http://bit.ly/1O1CjjA)
* Oil & Gas UK, which represents more than 500 companies working in the offshore industry, said output from the UK continental shelf in 2015 rose between 7 pct and 8 pct compared with the previous year. (http://bit.ly/1MPVecW)
Sky News
* Financial Conduct Authority will not pursue formal action over the tax evasion scandal which engulfed HSBC's swiss private bank last year, according to Sky News. (http://bit.ly/1O1D7Vs)
* UK's Labour Party leader Jeremy Corbyn is scheduled to meet Carolyn Fairbairn, the CBI director general, towards the end of the week, according to Sky News. (http://bit.ly/1O1DgbF)
The Independent
* The U.S. government has formally sued Volkswagen over the emissions cheating software that was found in nearly 600,000 vehicles sold in the country, exposing the company to potential billions of dollars in fines. (http://ind.pn/1O1DCPt)
* Nearly half of UK workers or 15.3 million people will look for a new job in 2016 due to bad management and how poorly valued they are, according to a report by Investors People.(http://ind.pn/1O1DSOl) ($1 = 0.6797 pounds) (Compiled by Parikshit Mishra in Bengaluru; Editing by Sandra Maler)
