PRESS DIGEST- British Business - Aug 16

Aug 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

- Air Berlin Plc filed for insolvency on yesterday when Etihad, its main shareholder, pulled the plug on further financial support. The emergency government funding of 150 million euros ($176.07 million) to enable Air Berlin to keep its aircraft in the air for the next three months triggered a furious response from Ryanair Plc, which accused German Government of preparing for Lufthansa to take over Air Berlin in breach of German and European rules. http://bit.ly/2vYMLI8

- One of Britain's biggest providers of maintenance for social housing Mears Group Plc has been forced to issue a profit warning and slash its revenue forecasts as clients delay new contracts after the Grenfell Tower disaster. Mears said that new orders were being put on hold. http://bit.ly/2vZtUwv

The Guardian

- Royal Bank of Scotland Group Plc is preparing to cut nearly 900 IT jobs, union officials have warned, as the bailed-out bank continues to trim costs in its battle to regain profitability. http://bit.ly/2vZBfMl

- China's credit-fuelled economic strategy has been branded as dangerous by the International Monetary Fund in a strongly-worded statement warning that its approach risks financial turmoil. The IMF used its annual health check on the world's second biggest economy to stress that faster expansion in 2017 was coming at the cost of a jump in private sector debt and an increasing use of complex financial instruments. http://bit.ly/2vZ1hiW

The Telegraph

- Energy companies face a fresh public battle after new findings revealed that consumers have still been overcharged by an "unacceptable" 100 million pound ($128.63 million) as a result of billing blunders, even as complaint rates fall. The report, from energy switching site uSwitch, said consumers were typically overcharged by 79 pound ($101.62)each, at a total cost of 102 million pound ($131.20 million)to consumers. http://bit.ly/2vZFNCv

- Company directors are increasingly being held personally accountable for excessive executive pay and other corporate governance failings, according to the City investors. Data from the Investment Association reveals that the rate of protest against individual board members at shareholder meetings has increased more than fivefold this year. http://bit.ly/2w0dO5A

Sky News

- TPG Capital is preparing to open formal talks with Spotify over the terms of a $1 billion bond in the music service as it prepares to go public. http://bit.ly/2vFKJd1

- Ministers hope to negotiate and complete trade deals with other countries during any Brexit transitional period, a British Government document has said. Brexit Secretary David Davis revealed future customs proposals, including an interim customs union with the EU aimed at avoiding a "cliff-edge" for manufacturers after Brexit. http://bit.ly/2vZqVEk

The Independent

- Many rail fares in UK will rise by 3.6 percent from January 2018, as a result of the high rate of inflation in July this year - which has been attributed to the EU referendum vote leading to a slump in the value of the pound. http://ind.pn/2vZKEDy

($1 = 0.7774 pounds) ($1 = 0.8519 euros) (Compiled by Bengaluru newsroom)

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