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PRESS DIGEST- British Business - May 14

Published 2019-05-13, 08:35 p/m
© Reuters.  PRESS DIGEST- British Business - May 14

May 14 (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

Metro Bank MTRO.L may attract a new investor to take a large stake in the company as it battles to raise £350 million ($453.36 million) to shore up its balance sheet after a damaging accounting error. Hundreds of managerial and white-collar jobs are to go at Ford UK, many at its Dunton operation near Basildon in Essex. Guardian The former chief financial officer of Autonomy has been jailed for five years, after a US jury found him guilty of fraud over the $11.1 billion sale of the British software company to Hewlett Packard Enterprise Co HPE.N in 2011. Motor Co Ltd 7267.T has confirmed it will close its Swindon factory in 2021, ending any hopes that the jobs of 3,500 employees can be saved. Telegraph

Vodafone Group PLC VOD.L has agreed to sell its New Zealand operation to a private equity consortium for €2.1 billion ($2.36 billion) to a consortium comprising of New Zealand-based Infratil Ltd IFT.NZ and Canada's Brookfield Asset Management BAMa.TO . Competition authorities in Brussels have slapped the world's biggest brewer Anheuser-Busch InBev ABI.BR with a €200 million ($224.54 million) fine for blocking cheaper imports of Belgium's most popular beer. board of Argo Blockchain PLC ARB.L embroiled in a shareholder row has attempted to rebuff a director nomination by a top shareholder who is trying to orchestrate a boardroom clear out. News The City of London Corporation will announce on Tuesday that Dr Rhian-Mari Thomas is to become the inaugural chief executive of Britain's Green Finance Institute. Independent

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Metro Bank PLC MTRO.L has been forced to quash "false rumour" on social media that prompted customers to rush to some branches amid concerns that the lender may be running out of money. https://ind.pn/2LQuqps Transport company FirstGroup's FGP.L response to its biggest shareholder trying to seize control of the board was to politely tell it to get off the bus. https://ind.pn/2LFB9CP

($1 = 0.7720 pounds) ($1 = 0.8907 euros)

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