PRESS DIGEST-British Business - April 20

·2 min read

April 20 (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

- The Bank of England and the Treasury have announced that they are setting up a taskforce to explore the possibility of a central bank digital currency. Rishi Sunak, the chancellor, has asked the Bank of England to look at the case for a new "Britcoin", aimed at tackling some of the challenges posed by cryptocurrencies such as bitcoin. https://bit.ly/3n0fVyq

- Inflationary pressure is building in the manufacturing sector as the proportion of businesses expecting to increase their prices has risen to the highest level in more than four years. A survey by the British Chambers of Commerce has found that in the first three months of this year price expectations in manufacturing climbed to the highest level since the final quarter of 2017. https://bit.ly/3txRk6t

The Guardian

- Facebook Inc has announced plans to launch new audio products and features in an aggressive move to take on competitors including Twitter Inc and Clubhouse, an invitation-only audio platform that has generated significant buzz. https://bit.ly/3syf8WP

- The UK government has stepped in to order an investigation of Nvidia Corp's $40 billion takeover of the Cambridge-based chip designer Arm, citing potential national security concerns. https://bit.ly/3dvcz3e

The Telegraph

- The French government has increased its stake in Air France KLM SA to more than three times that of the Netherlands, strengthening its grip on the struggling airline. https://bit.ly/3dwUCl3

- The buyout specialist Melrose is putting another 100 million pounds ($139.94 million) into engineer GKN's pension pot, fulfilling a key takeover pledge following a major disposal. https://bit.ly/32tnzb9

Sky News

- Tesco Plc has been fined 7.56 million pounds for selling food past its use-by date at three of its stores. The supermarket admitted 22 breaches of the Food Safety and Hygiene Regulations between 2016 and 2017 following an investigation. https://bit.ly/3gpNw3I

- Sky News has learnt that Elementis Plc, which makes chemicals used in products such as deodorants, has received an offer from Nasdaq-listed Innospec Inc which values it at more than 1 billion pounds. https://bit.ly/32qQs7Q

The Independent

- Senior managers in HSBC Holdings Plc's headquarters will have to hot desk on an open-plan floor instead of occupying private offices, the banking giant's chief executive, Noel Quinn, has confirmed. https://bit.ly/3dtyNCN

($1 = 0.7146 pounds) (Compiled by Bengaluru newsroom)