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PRESS DIGEST- British Business - July 16

Published 2016-07-15, 08:32 p/m
© Reuters.  PRESS DIGEST- British Business - July 16
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July 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

*Philip Green defended the sale of BHS, arguing that he invested £421 million ($555.21 million) in the department stores chain during his family's ownership. Bank of England must act "promptly as well as muscularly" next month with a package of measures to cushion the blow from Brexit, its chief economist, Andy Haldanehas, said. Guardian

*The UK has sought advice from Canada on how to secure a trade agreement with the EU following the Brexit vote, the Canadian Trade Minister Chrystia Freeland said. and train operator FirstGroup FGP.L has warned that its UK business is likely to be hit by weakening consumer confidence after the decision to exit the EU. Telegraph

*Britons are among 110,000 holidaymakers whose forthcoming trips have been plunged into turmoil as travel website Low Cost Travel Group has gone into administration. UK faces a looming winter gas supply crunch after Centrica CNA.L said it has been forced to shut down a key gas storage facility until next spring. News

*MPs have described as "deeply unfair" Volkswagen's VOWG_p.DE plan not to compensate 1.2 million UK customers affected by the firm's emissions scandal. troubled Co-operative Bank is replacing its finance director, John Baines, as it grapples with the legacy of problems that brought it to the brink of collapse three years ago. Independent

*Investors are still catching some of the global success of Pokemon Go global success, which has Nintendo 7974.T shares hit a six-year high. (http://ind.pn/29CWxS1)

*The chemical and pharmaceutical giant Bayer BAYGn.DE raised its offer for Monsanto (NYSE:MON) in a bid that values shares of the US company at $54.7 billion.(http://ind.pn/29CW9Da) ($1 = 0.7583 pounds)

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