PRESS DIGEST - British business - Aug 30

Wed Aug 29, 2012 8:25pm EDT

The Times

FRAUD INQUIRY IS NEW BLOW TO BARCLAYS

Barclays was hit by a devastating blow on Wednesday as it admitted that it was under criminal investigation by the Serious Fraud Office over suspicious payments made in 2008 when it was seeking a rescue from investors in the Gulf.

GAZPROM FORCED TO QUIT VAST ARCTIC GASFIELD

Gazprom, Russia's state-controlled gas group, has been humiliated after it was forced to abandon one of the world's largest gasfields.

SAMSUNG FACING DECEMBER PRODUCT BAN

The U.S. court that handed Apple a victory in its patent battle against Samsung has set a December date for a potential ban on the sale of its phones in the United States.

The Telegraph

LIB DEM RICH TAX MAY FORCE MILLIONS TO REVEAL WEALTH

Millions of people would be forced to disclose the value of their homes, investments and assets under Liberal Democrat plans for an emergency tax on wealth.

SFO LAUNCHES PROBE INTO BARCLAYS PAYMENTS IN QATAR

Barclays is facing a criminal investigation into payments made to Qatar's sovereign wealth fund at the time of its investment in the bank four years ago.

UK TRANSPORT SECRETARY 'ACTED UNLAWFULLY' CLAIMS VIRGIN

Britain's Transport Secretary "acted unlawfully" and in contravention of EU law when she awarded West Coast rail contract to FirstGroup, Virgin Rail has claimed.

The Guardian

CHINA THREATENS TO BURST IRON ORE BUBBLE DOWN UNDER

China's economic slowdown has left commodity-rich Australia and its over-valued currency exposed.

The Independent

HAWKING LIGHTS PARALYMPIC FIESTA

Opening ceremony celebrates the race towards equality to open a Games that can change lives and challenge everyone.

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