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How to avoid tax creep in retirement

The state pension went up 8.5% in April, but frozen thresholds mean pensioners will be paying more tax

PRESS DIGEST- British Business - July 26

Reuters

July 26 (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

Factories are increasing production at the fastest rate in 22 years, according to a CBI survey that suggests manufacturing may provide a boost for the economy as the dominant services sector begins to slow. http://bit.ly/2vYQlOy

Metro Bank Plc has warned that it will take two years longer than expected to hit its financial targets as it announced a surprise 278 million pound ($362.15 million) capital-raising amid growing speculation about a gap in its finances. http://bit.ly/2v6j6we

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The Guardian

Victims of the ground rents scandal are demanding ministers go further in tackling unfair abuses of the leasehold system, amid claims that as many as 100,000 existing homeowners remain trapped in properties that are "unsellable". http://bit.ly/2uutfS1

Noel Edmonds has increased his compensation claim against Lloyds Banking Group Plc to 300 million pounds after he fell victim to fraud at the hands of former HBOS Reading staff. http://bit.ly/2vYjeum

The Telegraph

The Guardian has developed plans to erect a paywall around its website and apps if its existing membership scheme and appeals for donations do not meet financial targets amid upheaval in the news market. http://bit.ly/2uVk661

Britain's car industry has been given a "vote of confidence" by BMW AG, the government said after the German automotive firm announced it will build an all-electric version of the Mini in the United Kingdom. http://bit.ly/2h0ODJY

Sky News

Private equity groups Clayton Dubilier & Rice and Bain Capital have joined forces to assemble a knockout takeover bid for the 6 billion pounds Unilever Plc division which houses the Flora margarine brand. http://bit.ly/2h1ul2O

Virgin Money Holdings Plc Chief Executive Officer Jayne-Anne Gadhia has used a post-results slide in its stock market valuation to acquire about 100,000 pounds-worth of the company's shares. http://bit.ly/2h1FgJV

The Independent

Amazon.com Inc plans to expand the number of people it employs in research and development across London – a powerful endorsement of the capital's booming tech sector despite the economy being steeped in uncertainty ahead of Britain's departure from the European Union. http://ind.pn/2v31X6Z

($1 = 0.7676 pounds) (Compiled by Bengaluru newsroom; Editing by Lisa Shumaker)