PRESS DIGEST- British Business - Nov 18

Nov 18 (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

* Former shadow chancellor Ed Balls said that the Bank of England has become so powerful since the financial crisis that limits to its independence are now needed. http://bit.ly/2f5Ff1e

* Royal Bank of Scotland Group Plc ignored warnings from senior advisers about estimated losses that would be reported in the prospectus for its record 12 billion pounds($14.89 billion) rights issue in order to portray the bank in a falsely healthy light, according to court documents filed by a large group of shareholders. http://bit.ly/2f5DYYc

The Guardian

* Tesco Plc Chief Executive Dave Lewis warned multinational consumer brand owners, such as Marmite's parent company Unilever Plc, asking them not to push currency-related price hikes on to British shoppers. http://bit.ly/2f5IxBY

* The number of care workers on zero-hours contracts has jumped from one in 10 of the sector's workforce to one in seven in the past year, according to an analysis of data from the Office for National Statistics. http://bit.ly/2f5AWTL

The Telegraph

* Britain's mobile phone company Three Mobile said that hackers have successfully accessed its customer upgrade database which could put the personal data of millions of customers at risk. http://bit.ly/2f5zl0n

* Hundreds of jobs may be lost in Somerset after GKN Plc said it would close a plant that makes helicopter components at the end of next year. http://bit.ly/2g3Bf3W

Sky News

* Office stationery brand Staples Inc will disappear from UK high street after its U.S. owner sold its struggling business to restructuring specialists Hilco Capital for a "nominal sum." http://bit.ly/2f5vNuO

* Accountancy firm Deloitte UK Chief Executive David Sproul said it may move some of its business out of UK if the Government's stance on immigration is too strong. http://bit.ly/2f5uzQn

The Independent

* The Office for National Statistics reported that retail sales surged by 1.9 percent in October, far exceeding City analysts' expectations and showing continued strength of household consumption despite the Brexit vote. http://ind.pn/2f5w7Kb ($1 = 0.8061 pounds) (Compiled by Bhanu Pratap in Bengaluru; Editing by Peter Cooney)

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