PRESS DIGEST- British Business – June 27

June 27 (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 former boss of Royal Mail has stepped down from the board of Rio Tinto Plc after less than a year, saying that the role was taking up more time than expected. bit.ly/2X3YluM

BCA Marketplace, the owner of Webuyanycar.com has agreed to sell itself to a private equity group TDR Capital for 1.9 billion pounds ($2.41 billion)in cash. bit.ly/2J6oBjg

The Guardian

Britain’s Institute for Fiscal Studies said on Thursday that British Foreign Secretary Jeremy Hunt’s promise to reduce corporation tax to the lowest rates in the advanced world would cost 13 billion pounds a year and risk the continuation of austerity. bit.ly/2FA3jcV

Retailer Boots is opening a concept store featuring a beauty hall with its own YouTube studio as part of one of the biggest makeovers. bit.ly/2ZVD34B

The Telegraph

Bank of England Governor Mark Carney launched an attack on “open-ended” investment funds with high levels of illiquid holdings, warning they are “built on a lie” and could pose a “systemic” threat following the suspension of Neil Woodford’s flagship fund. bit.ly/31RVrNj

The head of The Pensions Regulator (TPR), Charles Counsell has warned that the regulator could pursue Arcadia’s owner Tina Green if she reneges on promises to pump money into the struggling retailer’s pension scheme. bit.ly/2RzPEr9

Sky News

– JP Morgan Chase & Co is close to buying a stake in the banking venture, 10x Future Technologies founded by ex-Barclays chief Antony Jenkins. bit.ly/2xhdlv2

Bathroom retailer Bathstore has collapsed, placing more than 500 jobs at risk, the company is continuing to trade but stopped all installations as administrators hunt a buyer. bit.ly/2X2ZgvB

The Independent

Fashion chain retailer Bonmarche Holdings Plc has made a u-turn on its opposition to a 5.7 million pound rescue bid from billionaire Philip Day after warning of “poor” trading so far this financial year. bit.ly/2J7kd3G ($1 = 0.7878 pounds) (Compiled by Bengaluru newsroom; Editing by Sandra Maler)