PRESS DIGEST - British business - July 5

Wed Jul 4, 2012 8:34pm EDT

The Times

DIAMOND REFUSES TO TAKE BLAME FOR FIX RATE

Trust between Britain's financial regulator and Barclays broke down this year because of concerns over the bank's corporate culture, it emerged on Wednesday.

PENSION FUND KING SET TO STAND DOWN

Edi Truell, the private equity entrepreneur who founded Pension Corporation plans to stand down after securing an investment that values his buyout business at more than 1 billion pounds ($1.56 billion).

The Telegraph

FSA WARNED BARCLAYS OVER BOSSES

The Barclays board was warned less than six months ago that the relationship between the bank's senior management and the Financial Services Authority had "broken down".

ULSTER BANK CUSTOMERS STILL EXPERIENCING PROBLEMS

Royal Bank of Scotland has admitted some Ulster Bank customers will continue to face problems with their bank accounts almost a month after computer glitches sparked a crisis at the lender.

FORMER IMF CHIEF UNDER PRESSURE OVER BANKIA

Rodrigo Rato, the former head of the International Monetary Fund, is to face trial for alleged fraud in connection with the spectacular collapse of Spanish lender Bankia.

The Guardian

UK'S OSBORNE POINTS FINGER OVER LIBOR SCANDAL

British finance minister George Osborne accused the opposition party Labour of being at the heart of the row over the manipulation of interest rates during the credit crisis.

The Independent

WARNING LOOMS THAT VICKERS BANK REFORM IS DOOMED

Sir John Vickers' Independent Commission on Banking (ICB) will on Wednesday be accused of a "a dangerous dereliction of duty" by one of the Bank of England Governor's favourite economists.