PRESS DIGEST - British Business - Feb 19

Mon Feb 18, 2013 9:42pm EST

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Feb 19 (Reuters) - The Telegraph

STERLING HITS 7-MONTH LOWS AMID CALLS FOR FURTHER WEAKNESS

Sterling struck seven-month lows against the dollar before recovering some of its losses as a Bank of England policymaker said the pound may need to weaken further.

ARMS SALES FALL FOR FIRST TIME SINCE MID 1990S AS BAE SLIPS

Pressure on the global defence industry was laid bare as arms sales fell for the first time since the mid 1990s, while BAE Systems slipped to third from second in a league table of the biggest arms makers.

PM PLEDGES TO FIGHT FOR UK JOBS THREATENED BY BRIBERY SCANDAL

David Cameron has pledged to fight for British jobs put at risk by a bribery scandal over an Indian defence contract.

FROZEN BURGER SALES FALL 40 PCT FOLLOWING HORSE MEAT CRISIS

Sales of frozen burgers have slumped by 40 percent as the horse meat saga causes customers to shun own-label brands, industry data have shown.

FIRST CAPITAL CONNECT VOTED WORST TRAIN OPERATOR

First Capital Connect has been voted the worst train operator by commuters, according to a survey.

AVIVA TO SELL TURKISH UNIT AS IT SHRINKS ITS BALANCE SHEET

FTSE-100 insurer Aviva Plc is selling its listed Turkish business, Aviva Sigorta, which trades on the Istanbul Stock Exchange with a market value of 269 million pounds.

The Guardian

NAT ROTHSCHILD SUFFERS BLOW IN BID TO REGAIN BUMI CONTROL

Nat Rothschild's bid to seize back control of the embattled mining group Bumi has been dealt a blow after a key investor sold his shareholding shortly before a crucial vote on the company's future.

HEATHROW CHIEF DEFENDS STEEP RISE IN LANDING CHARGES DESPITE REVENUE LEAP

The boss of Heathrow has defended steep rises in landing charges that will push up air fares by saying returns to investors now have to come first, despite a leap in revenues at the airport on the back of record passenger numbers in 2012.

PM BEGINS INDIA VISIT WITH SHOT OVER BOWS OF TAX AVOIDERS

Highly aggressive forms of tax avoidance should be regarded in a similar way to illegal tax evasion, David Cameron has said as he called on businesses to pay their fare share of tax.

The Times

IBERIA STAFF VENT THEIR FURY AT IAG

Clashes broke out at Madrid's main airport Monday as police charged at hundreds of Iberia workers striking over job cuts imposed by the airline's parent company in London.

BRITAIN FACES BATTLE TO STOP CAP ON BANK BONUSES

Britain is mounting a frantic, last-ditch effort to head off a cap on bankers' bonuses proposed by Brussels.

The Independent

UK LIKELY TO LOSE BATTLE OVER STRICT LIMITS ON BANK BONUSES

Britain and the City look set to be the losers in the battle against the European parliament's plans to bring in the toughest restrictions on bankers' bonuses since the financial crisis began in 2008.

COSTS FORCE CARLSBERG TO BACKTRACK ON TARGETS

Carlsberg, the world's fourth-largest brewer, today scrapped its medium-term profit margin targets, blaming unpredictable raw material and energy costs and increased investment in its supply chain.

BOOST FOR GREENCORE AFTER HORSEMEAT TESTS COME BACK NEGATIVE

Irish food group Greencore's shares galloped ahead today after it said that tests had found no other traces of horsemeat in products at its facilities.

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