PRESS DIGEST - British Business - Feb 7

Wed Feb 6, 2013 8:28pm EST

Feb 7 (Reuters) - The Telegraph

42 MLN STG FOR VIRGIN MEDIA BOSS IN LIBERTY GLOBAL DEAL More than 4,000 staff at Virgin Media will share in a major windfall after the company's sale to US cable television giant Liberty Global, including boss Neil Berkett who will take more than $65 million off the table.

GSK COULD SELL LUCOZADE AND RIBENA AS GROUP SALES SLIP Sir Andrew Witty, chief executive of GlaxoSmithKline, announced a "strategic review" of iconic brands Lucozade and Ribena as group sales slipped 1 percent over the year.

AER LINGUS: FLYBE DEAL WITH RYANAIR IS 'DESPERATE' MOVE Aer Lingus has accused Flybe of acting out of "desperation" after the UK regional airline admitted it would receive 150 million euros to operate 43 of the Irish carrier's short-haul routes if it is taken over by Ryanair.

The Guardian

RBS FINED 390 MLN STG FOR LIBOR-RIGGING SCANDAL Royal Bank of Scotland was handed a 390 million pound fine on Wednesday for "widespread misconduct" in rigging the Libor rate until as recently as November 2010, two years after it was bailed out by taxpayers.

OECD TONES DOWN BACKING FOR GEORGE OSBORNE'S STAUNCH AUSTERITY PROGRAMME Economic think-tank warns chancellor he may need to accept slower pace of deficit reduction. Sky Business

CITY FINANCIER HARRIS KICKS OFF POMPEY BID Keith Harris, the man behind a string of football club deals, fronts a takeover bid for struggling Portsmouth.

The Times HUNDREDS LOSE JOBS AT 2E2 AFTER BIDDERS WALK AWAY Administrators overseeing the sale of 2e2, the failed IT services company, have dismissed 627 staff after failing to convince any of the bidders circling the company to take it over.