PRESS DIGEST - British business - April 4

The Daily Telegraph

PARIS ATTEMPTS TO PRISE HSBC FROM LONDON

French officials are trying to persuade HSBC (HSBA.L) to move its headquarters to Paris as the bank looks at its domicile arrangements as part in its triennial review.

OLIGARCHS RENEW BID TO HALT BP DEAL

Four Russian oligarchs will make a renewed attempt to block BP's (BP.L) proposed $16 billion share-swap deal with Rosneft (ROSN.MM), saying it contravened an existing shareholder agreement.

OPHIR ENERGY PLANNING LONDON IPO

Ophir Energy, an oil company backed by Lakshmi Mittal, Britain's richest man, is preparing an initial public offering in London for the second time.

BROUGHTON TO FLOAT TOTE IF HE WINS RACE

British Airways BAY.L chairman Martin Broughton could float Tote in an accelerated initial public offering if he wins a 200 million pound auction for the state-controlled bookmaker.

The Times

ECB WARNED NOT TO RAISE INTEREST RATES

Accountant Ernst & Young has warned the European Central Bank that the euro zone economy is still too weak to cope with an interest rate rise.

BP TO RESUME DRILLING IN MEXICO

Oil group BP (BP.L) was won permission to drill in the Gulf of Mexico in July, 15 months after an explosion at the rig killed 11 workers are emptied an estimated 4.9 million barrels of crude oil into the sea.

The Guardian

GREEN PAPER PROPOSES A 155-POUND UNIVERSAL PENSION

Ministers are set to outline plans for a universal state pension which they say would simplify a complex system and provide more incentive for people to save.

(Summary compiled by Reuters)