PRESS DIGEST- British Business - June 28
June 28 (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
The yield on UK benchmark government bonds fell below 1 percent for the first time as investors continued to sell shares and sterling in favour of safe-haven assets following the vote to leave the EU. (http://bit.ly/296gPrn)
Shares in easyJet have crashed following a damaging profit warning which has put pressure on the airline after it had already outlined significant issues following the UK's vote to quit the EU. (http://bit.ly/296hj0y)
The Guardian
Credit rating agency Standard & Poor stripped the UK of its last AAA rating as it warned of the economic, fiscal and constitutional risks the country now faces as a result of the EU referendum result. (http://bit.ly/28XT4NI)
Former BHS shareholder Richard Caring has said he was owed more than £850,000 ($1.12 million) when the retailer collapsed, as he told MPs looking into the matter that he was unable to attend parliament this week. (http://bit.ly/28Y4JwT)
The Telegraph
Britain must pursue a Norway-style agreement with the EU if it is to avoid a damaging recession, according to Morgan Stanley . The bank said negotiating membership of the European Economic Area and retaining access to the single market would help the UK to secure a "civilised divorce" from the EU. (http://bit.ly/291Rb5U)
KPMG's role in assessing HBOS' finances in the year ahead of its collapse in the financial crisis will at long last come under scrutiny, the UK's audit watchdog has decided. (http://bit.ly/28YNn5M)
Sky News
British PM David Cameron has said Article 50 will not be triggered "at this stage" and key negotiations over the country's exit from the EU will wait for the new Prime Minister. (http://bit.ly/28Z942y)
Moody's has signalled to a number of the largest UK lenders that it plans to revise the outlook for their credit ratings from positive or stable to negative in the wake of the UK's decision to leave the EU. (http://bit.ly/291GHDx)
The Independent
Sterling has this morning slipped to $1.3218 - a new 31-year low against the U.S. currency, as a result of investor anxiety over the economic implications of Brexit. (http://ind.pn/2942hsa)
Shares in estate agent Foxtons suffered a massive 20-per cent slide on the stock market on Monday morning after the company released a trading update saying that the results of the EU referendum would likely weigh on profits. (http://ind.pn/2985HaG) ($1 = 0.7562 pounds) (Compiled by Bhanu Pratap in Bengaluru; Editing by Sandra Maler)
