PRESS DIGEST- British Business - Aug 15

Aug 15 (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

- Employees at a key warehouse supplying products to House of Fraser stores and online shoppers have downed tools in a wrangle over delivery payment terms with Mike Ashley's Sports Direct International Plc. http://bit.ly/2PaoR30

- Royal Mail Plc is facing a legal action from Whistl, a letter-handling rival, after the privatised postal group was fined a record 50 million pounds ($63.6 million) for a deliberate breach of the Competition Act. http://bit.ly/2P6N2iV

The Guardian

- Pay for chief executive officers at Britain's biggest listed companies rose more than six times faster than wages in the wider workforce last year as the average boss's pay packet hit 3.9 million pounds. http://bit.ly/2PbikoT

- UK's Transport Minister Chris Grayling has opened the way for smaller annual rail fare increases by suggesting they could be pegged to a lower measure of inflation – but only if unions accept the same measure for staff pay. http://bit.ly/2P7d3OR

The Telegraph

- A group of founders and former employees of dating app Tinder are suing the group's parent company, alleging that they were swindled out of $2 billion worth of share options. http://bit.ly/2P7lcCZ

- Intel Corp has revealed another potential security flaw in its products which could expose sensitive data, the third time it has had to disclose a vulnerability in its systems since the start of the year. http://bit.ly/2P6O2DH

Sky News

- Royal Bank of Scotland Group Plc has agreed to pay $4.9 billion to settle a U.S. Department of Justice probe into the mis-selling of mortgage-backed securities before the financial crisis. http://bit.ly/2PafTTm

- BT Group Plc has approached Stephen Carter, the former Ofcom boss, about replacing Gavin Patterson as chief executive officer of Britain's largest telecoms company. http://bit.ly/2P7OaTj

The Independent

- Homebase is set to close 42 stores, putting up to 1,500 jobs at risk, as it launches a company voluntary arrangement in a bid to cut costs. https://ind.pn/2PaqBt4 ($1 = 0.7863 pounds) (Compiled by Bengaluru newsroom; Editing by Sandra Maler)

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