PRESS DIGEST- British Business - May 16
May 16 (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 directors of Carillion Plc should be formally investigated after overseeing a "rotten corporate culture" and may warrant disqualification from holding boardroom roles in the future, a House of Commons inquiry has concluded. http://bit.ly/2IkAEMb
Concerns have been raised over plans by the former director of the Serious Fraud Office, David Green, to join law firm Slaughter and May, that has represented some of the biggest companies he has prosecuted. http://bit.ly/2L16rj4
The Guardian
EasyJet Plc is planning to expand its holiday business and set up a new loyalty scheme as it targets a 30 percent leap in profits this year. http://bit.ly/2L2IPe0
Sales at Sir Philip Green's Arcadia retail empire dropped below 2 billion pounds ($2.70 billion) during 2017 when a surge in online transactions hit trade in its shops. http://bit.ly/2rLrwFh
The Telegraph
Britain's economy is entering a "menopausal" phase after passing peak productivity, Ben Broadbent, deputy governor of the Bank of England has suggested. http://bit.ly/2rM0E83
Energy bill payers will be forced to stump up an extra 1.5 billion pounds for their energy over the next 15 years after a tweak to the government's auction for low-carbon power subsidies backfired. http://bit.ly/2rL3fiF
Sky News
Betfred, which owns The Tote, will axe more than 4,500 jobs if the government implements plans to slash maximum stakes on gambling machines to just 2 pounds. http://bit.ly/2rJFoju
One of Britain's fastest-growing online travel agents, Love Holidays, is likely to announce a takeover by Livingbridge, the private equity firm, for more than 180 million pounds. http://bit.ly/2rJXwcY
The Independent
Vodafone on Tuesday said its Chief Executive Addio Vittorio Colao will step down and be replaced by the current finance chief Nick Read. https://ind.pn/2rL3L05
The transport secretary, Chris Grayling, is expected this week to cancel the troubled Virgin Trains East Coast (VTEC) franchise, just three years after it began. https://ind.pn/2rKwq5v
($1 = 0.7405 pounds) (Compiled by Bengaluru newsroom; Editing by Sandra Maler)
