PRESS DIGEST - British business - April 13

Thu Apr 12, 2012 7:57pm EDT

The Times

LLOYDS POISED TO SELL SCOTTISH WIDOWS DIVISION

Lloyds Banking Group is dumping more than half of its fund managers, prompting renewed speculation that the bank is exploring plans to sell its Scottish Widows insurance division.

The Telegraph

UK'S ROYAL MAIL RATIONING STAMPS

Britain's Royal Mail is limiting the number of stamps it supplies to retailers now to ensure it profits from record price rises later this month.

TERRA FIRMA IN RUNNING TO TAKE CONTROL OF FOUR SEASONS

The private equity firm Terra Firma Capital is one of the front runners to invest in Britain's largest care home business in what would be one of the its most significant deals since the firm's ill-fated acquisition of music giant EMI.

UK COMMERCIAL PROPERTY BEING SMOTHERED

Britain's struggling commercial property market is being smothered by the "substantial" costs associated with controversial swaps sold by some of the UK's biggest banks.

The Guardian

IMF CHIEF LOOKS BEYOND EURO ZONE CRISIS

Christine Lagarde, the managing director of the International Monetary Fund, has praised Europe's efforts to tackle its sovereign-debt crisis and said the "breathing space" should be used to complete the repair work on the global economy.

The Independent

NBNK BACK WITH NEW PROPOSAL FOR LLOYDS SALE

NBNK, the vehicle the City of London grandee Lord Levene wants to use to create a new bank, on Thursday made a last-ditch bid to crash the Co-op's attempt to take control of 634 branches that Lloyds Banking Group was forced to put up for sale.

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