PRESS DIGEST - British Business - Feb 13

Tue Feb 12, 2013 8:11pm EST

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Feb 13 (Reuters) - The Telegraph

BP CHIEF BOB DUDLEY AWARDED 2.6 MLN STG ANNUAL BONUS DESPITE PROFITS SLUMP BP has awarded chief executive Bob Dudley an annual bonus worth 2.6 million pounds in shares and cash as a reward for the oil major's performance in 2012, despite a slump in its profits.

BRUSSELS TO BLOCK RYANAIR'S THIRD TILT AT AER LINGUS Ryanair has accused the European Commission of not giving it a "fair hearing" after competition officials signalled they would block the airline's proposed takeover of rival Aer Lingus.

REPUBLIC TO CALL IN ADMINISTRATORS, 2,000 JOBS AT RISK Republic, the youth fashion retailer, is poised to become the latest high street business to collapse into administration, putting as many as 2,000 jobs at risk.

The Guardian

HORSEMEAT SCANDAL: POLICE AND FSA RAID TWO BRITISH MEAT COMPANIES West Yorkshire abattoir and Welsh meat processors raided to ascertain how horsemeat is sold as beef for kebabs and burgers. CBI PRESSES GEORGE OSBORNE FOR MORE INFRASTRUCTURE SPENDING IN BUDGET Employers' organisation calls for chancellor to pull policy levers 'with more elbow grease' as it cuts its forecasts for UK growth.

OECD CALLS FOR CRACKDOWN ON TAX AVOIDANCE BY MULTINATIONALS Ease with which 'big guys' shift profits to offshore havens shows governments need to step up their efforts, think-tank warns.

The Times

WORSE TO COME, HOUSEHOLDS WARNED Britons were warned to brace themselves for a new rise in inflation this summer as rising energy prices and costlier imports impose a fresh clampdown on family budgets. The Bank of England is expected to predict on Wednesday that inflation will remain above its target until halfway through the decade.

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