PRESS DIGEST-British Business - March 20

March 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

- Lloyd’s of London has officially abandoned its plan to digitise the entire insurance market on a single cloud-based platform in a U-turn that could lead to up to 300 million pound ($402.45 million) having to be written off.

- Deloitte’s head of tax Darren Graves, is set to become the accounting firm’s next UK chief executive.

The Guardian

- BP BP.L said it would sell its German oil refinery site in Gelsenkirchen to investment firm Klesch Group for an undisclosed sum, as part of the British oil company’s $20 billion divestment plan to cut costs.

- European airline chiefs warned that a prolonged conflict in the Middle East would lead to higher air fares as flight cancellations drive up costs and aviation fuel prices, with some carriers even flagging risks to jet fuel supplies.

The Telegraph

- IG Group IGG.L is weighing moving its listing from London, possibly to the United States, as the spread betting specialist seeks to tap into fast-growing markets being reshaped by new trading technologies.

- Amazon AMZN.O unveiled a subscription‑only version of its Alexa+ voice assistant in the UK.

Sky News

- Buyout firm Bridgepoint BPTB.L is drawing up proposals for a formal offer worth more than 1 billion pound for British private hospital operator, Spire Healthcare SPI.L.

- Premier Foods PFD.L, the owner of Mr Kipling and Bisto stock cubes, is considering a 200 million pound bid for Crosta Mollica, the European premium pizza brand.

The Independent

- Tesco TSCO.L, Britain's largest private sector employer, became the latest major retailer to increase store workers' pay by more than inflation, following similar moves by peers

- Reopening the Strait of Hormuz is “the best thing to do” to prevent interest rates rising, Bank of England governor Andrew Bailey said.

($1 = 0.7454 pounds)

(Compiled by Bengaluru newsroom)

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