PRESS DIGEST - British business - Dec 17

Sun Dec 16, 2012 7:50pm EST

The Times

KPMG PAYS PRICE FOR BETTING ON UPTURN THAT NEVER ARRIVED

The stagnant economy has hit the pockets of partners at one of Britain's leading professional services firms, wiping 17 percent off the average profit shares of senior bean counters at KPMG.

The Telegraph

TRAFIGURA SET FOR LONDON FLOTATION

Trafigura, the controversial oil trading group that was forced to pay millions of dollars relating to toxic waste spills, could raise billions in a London Stock Exchange flotation next year.

BANKS FACE MORE RADICAL REFORM THAN RING-FENCING

The coalition's financial reforms could be seriously challenged this week by demands from the banking commission for a far more radical overhaul of British lenders.

ITALY REJECTS NEED FOR ECB BOND AID

Rome will not be forced to seek help from the European Central Bank's emergency scheme, according to the governor of the Bank of Italy in a strong rebuttal of economists' claims that the country faced another crisis on the bond markets.

The Guardian

JUDGES TAKE ON MINISTERS OVER SUPREME COURT

The government is facing a clash with some of the country's most senior judges who will this week attempt to force ministers to relinquish control of the running of the supreme court.

The Independent

PEER-TO-PEER LENDING BOOM COULD MAKE BANKS OBSOLETE

The days of the banking middlemen may be numbered as a technological revolution in business lending shakes the dominance of the UK's biggest banks, a senior director of the Bank of England has said.

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