PRESS DIGEST- British Business - Jan 19

Jan 19 (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

Four hundred jobs go as Clydesdale and Yorkshire banks cut branches by third

Clydesdale Bank Plc and Yorkshire Bank are to close one third of their branches this year with the loss of 400 jobs and potential inconvenience to tens of thousands of account-holders. CYBG, the owner of both banks, said that it was cutting 79 branches, reducing its network to only 168. The cull is more radical that when first flagged in September. Then CYBG said only that it would reduce branch numbers to below 200. http://bit.ly/2jyRVEd

The Guardian

Deutsche Bank takes the axe to staff bonuses

Deutsche Bank AG announced massive cuts to its annual bonus scheme on Wednesday, as it looks to absorb the impact of a record $7.2bn fine in the United States. Around 25,000 of the bank's most senior staff will receive no individual bonus for 2016. The cuts will apply worldwide, and will affect bankers in London and New York. http://bit.ly/2iJpEqj

EE fined 2.7 mln stg by Ofcom for overcharging customers

The telecoms watchdog has slapped mobile phone giant EE with a 2.7 million pound fine for overcharging almost 40,000 customers. Ofcom accused EE of "fundamental billing mistakes" in charging mobile phone users too much when they dialled its customer service number 150 from abroad. http://bit.ly/2jMV2G1

The Telegraph

Calls for ex-Rolls-Royce CEO to lose knighthood after firm admits bribery

Labour called for the former chief executive of Rolls-Royce Holdings Plc to lose his knighthood, after the company admitted "extensive systemic bribery and corruption" during the period in which he ran the jet engines manufacturer. John Rose held the job at the Derby-based corporation, which was forced on Tuesday to admit that it was responsible for "egregious criminality over decades" between 1996 and 2011. http://bit.ly/2iTaUZ4

Sky News

Cyber-security firm NCC ousts chairman after profit warnings

The troubled cyber-security firm NCC Group Plc will announce on Thursday that one of the longest-serving chairmen of a listed UK company is stepping down following a pre-Christmas profit alert. Paul Mitchell, who has chaired NCC since 1999, is to depart in the coming months amid shareholder concerns about the company's performance. http://bit.ly/2jAaCHn

BP risks fresh pay row in 2017 over boss Dudley's share award

BP Plc is facing a renewed showdown with shareholders over its chief executive's multi-million pound pay package, 12 months after an investor revolt at the company triggered a move by the Government to curb excessive boardroom remuneration. A number of big City shareholders in BP have expressed opposition to proposals by the oil giant's board to trim the maximum sum payable to Bob Dudley under a long-term incentive plan. http://bit.ly/2k4LGsp

HSBC and UBS issue new warnings over Brexit jobs exodus

HSBC Holdings Plc and UBS Group AG have issued fresh warnings over an exodus of staff following Brexit, a day after Theresa May confirmed the UK would leave the single market. The remarks by the two global banks at the World Economic Forum in Davos suggested each could move 1,000 workers out of London, echoing warnings from the sector before last June's vote. http://bit.ly/2jaypul

The Independent

Sadiq Khan expected to attack Theresa May's hard Brexit plans at World Economic Forum

The Mayor of London, Sadiq Khan, will use a planned speech at the World Economic Forum in Davos to warn that a 'hard Brexit would be a lose-lose situation'. http://ind.pn/2iRbeHZ

UK post-Brexit trade deal with India threatened by Theresa May's visa crackdown

One of Britain's most important post-Brexit trade partnerships could be at risk due to Theresa May's refusal to reform visa restrictions for Indian citizens. The Prime Minister has insisted leaving the EU would allow Britain to find other partners abroad and India, the world's fastest growing major economy, was the first country she visited, accompanied by a large business delegation, outside Europe after the referendum. http://ind.pn/2iRHXNh (Compiled by Rama Venkat Raman)