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PRESS DIGEST- British Business - Oct 12

Updated: 12-10-2018 06:21 IST
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

Sir Martin Sorrell is closing in on another acquisition at his newly listed advertising venture, potentially placing further strain on his relationship with WPP.

Prized post-Brexit trade agreements with the United States, China and India would have only a "relatively modest" impact on Britain's economy, according to Office for Budget Responsibility (OBR).

The Guardian

Sir Richard Branson has suspended talks with the Saudi government over investment in his space tourism venture Virgin Galactic and has put on hold directorship of two massive tourism projects planned by Saudi Arabia along the Red Sea.

The Telegraph

Theresa May is facing the threat of Cabinet resignations after she accepted EU demands that there will be no time limit on her controversial Brexit backstop plan.

Philip Hammond plans to scrap a promised income tax cut to pay for a climbdown on Universal Credit, the Telegraph understands.

Sky News

Fashion chain Coast has collapsed into administration - putting 300 jobs at risk.

The world's largest property investor is close to clinching an 800 million-plus pounds takeover of the NEC Group, the live events complex which plays host to Crufts.

The Independent

Cadbury owner Mondelez International Inc UK paid no corporation tax in Britain last year, despite reporting profit of more than 185 million pounds.

Johnston Press, the publisher of the i newspaper, The Scotsman and The Yorkshire Post, has put itself up for sale.

(Compiled by Bengaluru newsroom)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)