PRESS DIGEST-British Business - Jan 31

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- 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

- HSBC HSBA.L has been fined 57.4 million pounds for "serious failings" in protecting up to 112 billion pounds ($142.21 billion) of deposits over several years, in the first penalty of its kind under UK rules designed to protect customers if banks fail.

- Britain on Tuesday issued a legal order preventing an Abu Dhabi-backed group from making more changes to its proposed takeover of the Telegraph newspaper, days after eleventh hour adjustments by RedBird IMI group reset an ongoing regulatory process.

The Guardian

- Comcast CMCSA.O-owned Sky plans to cut about 1,000 jobs across its businesses this year as it transitions to internet-based services from traditional satellite.

The Telegraph

- British finance minister Jeremy Hunt warned the cabinet that he may have limited scope to cut taxes as the International Monetary Fund (IMF) said Britain's growing debt pile and pressures on the NHS would make them unaffordable.

Sky News

- BT Group's BT.L new CEO Allison Kirkby and Lloyds Banking Group LLOY.L boss Charlie Nunn have joined a cohort of business leaders who will be named by Downing Street as advisers to British Prime Minister Rishi Sunak.

($1 = 0.7876 pounds)

(Compiled by Bengaluru newsroom)


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