PRESS DIGEST - British business - April 20

Thu Apr 19, 2012 8:35pm EDT

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The Times

AQUASCUTUM CUTS JOBS AT PLANT

Aquascutum, the luxury fashion retailer which this week fell into administration, is to shut its manufacturing plant in England with the loss of 115 jobs.

The Telegraph

GLAXO HAS BID REJECTED FOR U.S. BIOTECH GROUP

GlaxoSmithKline is facing a battle in its takeover bid of U.S. biotechnology group Human Genome Sciences after a $2.6 billion bid was rejected on Thursday.

BARCLAYS REINS IN DIAMOND'S DEAL AMID INVESTOR REBELLION

Barclays has attempted to head off a shareholder revolt over the 17.7 million pound ($28.43 million) package awarded to its chief executive, Bob Diamond, by offering to amend the terms of his annual bonus.

AVIVA'S EUROPE BOSSES LOSE JOBS IN SHAKE UP

Aviva has announced the departure of three leading executives in a boardroom overhaul dismissed as "window dressing" by institutional shareholders.

The Guardian

IMF CHIEF MAKES LAST DITCH STRUGGLE TO RAISE FUNDS

Christine Lagarde is involved in a struggle to raise funds for the International Monetary Fund amid fears that a fresh eruption of the global financial crisis will leave the organisation short of emergency cash.

The Independent

TESCO PLAN STORE SHAKE-UP AND ONLINE EFFORT

Tesco put a radical overhaul of it UK stores and dominating online shopping at the heart of a 1 billion pound ($1.61 billion) fight to turn around its weak domestic performance on Thursday.

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