PRESS DIGEST - British Business - Feb 15

Thu Feb 14, 2013 8:04pm EST

Feb 15 (Reuters) - The Telegraph

WARREN BUFFETT'S BERKSHIRE HATHAWAY AND 3G CAPITAL TO BUY HEINZ IN $28 BLN DEAL US financial titan Warren Buffett's investment firm Berkshire Hathaway, along with 3G Capital, has agreed to buy baked beans giant Heinz for $28 billion. GEORGE SOROS 'MAKES $1 BLN BETTING AGAINST YEN' US hedge fund investor George Soros has gained about $1 billion since November betting against the yen, according to reports. ERIC DANIELS: '50 PCT OF PPI CLAIMS WERE BOGUS' Former Lloyds boss Eric Daniels has told MPs that 50 percent of mis-selling claims received by the bank related to payment protection insurance (PPI) were bogus, but a lot were paid out in the early days as staff struggled to handle the volume of claims.

BRITVIC AND AG BARR TO PRESS AHEAD WITH MERGER Britvic and AG Barr will battle regulators over their proposed £1.4bn drinks merger after it was referred to the Competition Commission.

ROLLS-ROYCE BOOSTS BRITISH INDUSTRY WITH RECORD PROFITS AND NUCLEAR PLEDGE Rolls-Royce has struck a blow for UK industry after reporting an increase in annual profits for the tenth year in a row while also pledging to stand by Britain's civil nuclear programme.

The Guardian

GOVERNMENT TO BLACKBALL TAX AVOIDANCE FIRMS FROM MAJOR CONTRACTS Treasury unveils proposals to stop companies bidding for major contracts if they have used aggressive tax structures over the past decade.

2E2 RESCUE DEAL: OAKLEY CAPITAL TO BUY CHUNK Oakley Capital, a private equity firm headed by technology entrepreneur Peter Dubens, is likely to announce that it has struck a deal to acquire a chunk of 2e2's operations.

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