PRESS DIGEST - British business - Oct 11

The Daily Telegraph

OFCOM TO LAUNCH PROBE INTO YOUVIEW

The UK's communications watchdog Ofcom is preparing to launch an investigation into broadcasters' plan to bring iPlayer-like services to televisions over concerns that the BBC-led YouView could stifle competition.

IRISH GOVERNMENT TO PLAY LEADING ROLE IN HOTEL SALE

Middle Eastern investors are being sought for three of London's top hotels after Claridge's, The Berkeley and the Connaught were put up for sale by the Irish government.

BANK WATCHDOG "UNDERESTIMATES TRUE COST OF REFORMS"

Top bankers have warned that regulators are underestimating the economic cost of financial reforms because of overly optimistic capital assumptions by the Bank for International Settlements.

CRISPIN ODEY CHOOSES LLOYDS OVER BARCLAYS

Crispin Odey, the hedge fund manager who made a 28 percent return on the back of Barclays (BARC.L) has said Lloyds Banking Group (LLOY.L) is a better investment because of the bank's focus on traditional services, like mortgages.

The Times

RYANAIR RAISES PRESSURE IN ROW OVER FRENCH WORKERS

Ryanair (RYA.I) has stepped up threats to abandon its Marseilles base since French prosecutors said it was operating illegal working practices.

IRISH FACE DEEPER CUTS AND MORE TAXES

Ireland's Finance Minister Brian Lenihan has warned that he is planning bigger savings in a forthcoming budget than the 3 billion euros he had been targeting.

BDO WARNS BRITAIN COULD FACE DOUBLE DIP RECESSION

BDO, the fifth largest global accounting firm, has warned in its latest forecasts that Britain is heading for a double-dip recession early next year, putting the economy under intense pressure as spending cuts start to bite.

The Guardian

BP TO SCRAP INDEPENDENT SAFETY WATCHDOG

Oil giant BP (BP.L) plans to scrap the external safety ombudsman it set up after a fatal explosion in its Texas City refinery in 2005 despite a growing number of concerns by the company's employees. BA CHIEF SAYS AIR PASSENGER TAX DISGRACEFUL

British Airways BAY.L Chief Executive Willie Walsh has said the government's air passenger duty tax is a "disgrace" that will have a big impact on the economies on Britain and developing countries. (Summary compiled by Reuters; editing by David Stamp)