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BTGroup

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PwC fined $2 mln over BT audit after fraud discovered in Italy

By Huw Jones LONDON, Aug 8 (Reuters) - Britain's accounting watchdog said on Monday it had fined auditor PwC 1.75 million pounds ($2.12 million) after it failed to properly challenge UK telecoms group BT BT.L once a half-a-billion pound fraud was discovered in BT's Italian operations. BT's full-year financial statement for the year ended March 31, 2017, had to be adjusted by 513 million pounds due to the fraud, the Financial Reporting Council (FRC) said.
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British Business - July 29

July 29 (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 - Michael Thomson, the chief executive of the collapsed investment company London Capital & Finance, faces jail after admitting to concealing 95,000 pounds ($115,624.50) from the Serious Fraud Office.
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UK Stocks-Factors to watch on July 22

July 22 (Reuters) - Britain's FTSE 100 index .FTSE is seen opening higher on Friday, with futures FFIc1 up 0.1%. * JD SPORTS: Britain's largest sportswear retailer, JD Sports Fashion JD.L , said it expects annual profit to be in line with expectations on strong demand for its sportswear. * BEAZLEY: Lloyd's of London insurer Beazley BEZG.L reported first half profits plunged due to investment losses, but upped its full-year profitability guidance on an increase in cyber risk premiums.
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British Business - July 19

(Corrects date in headline and dateline) July 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 - SoftBank Group 9984.T has reportedly paused talks with the UK government about an initial public offering of the British chip designer Arm in London because of the UK's political upheaval.
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UK Stocks-Factors to watch on July 18

July 18(Reuters) - Britain's FTSE 100 index .FTSE is seen opening higher on Monday, with futures FFIc1 up 0.53%. * JOHNSON MATTHEY: Johnson Matthey JMAT.L said on Monday it is building an 80 million pound ($95.08 million) gigafactory as it looks to expand manufacturing of hydrogen fuel cell components in the UK. * GSK: British drugmaker GSK GSK.L spun off its consumer health business on Monday in the biggest listing in Europe for more than a decade.
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