PRESS DIGEST - British Business - Feb 25
Feb 25 (Reuters) - The Telegraph
CHANCELLOR MUST 'EASE PACE' OF AUSTERITY IN WAKE OF UK CREDIT RATING DOWNGRADE
One of the biggest global fund managers, Fidelity Worldwide Investment, has called for the Government to "ease the pace" of austerity in the wake of the UK's credit rating downgrade.
FRANCE MORE OPEN FOR BUSINESS THAN US AND GERMANY
France is more open to foreign investment than the United States or Germany, the country's industry minister has claimed, as he singled out Britain as being in "even bigger difficulty than France over its budget deficit".
ABERTIS MAY SELL ITS BRITISH REGIONAL AIRPORTS AFTER REVIEW
Some of Britain's leading regional airports could be about to change hands after the world's largest toll road operator ordered a review of its transport division.
LONDON HIGH STREETS ENJOY INCREASING DEMAND FROM RETAILERS
A group of high streets in London outside of the core tourist destinations are growing in popularity and stature as retailers struggle to find affordable sites on Oxford Street and Bond Street.
UK ECONOMY IS VULNERABLE AFTER CREDIT RATING FALL
Two former Conservative chancellors have issued grave warnings about the British economy as the government braced itself for the pound to slide following the loss of the UK's coveted AAA credit rating.
ICIS CONSULTS ENERGY INDUSTRY OVER HOW TO IMPROVE OPERATIONS
ICIS, the price reporting agency at the centre of the wholesale gas market rigging allegations, has opened a formal consultation with the energy industry about how to improve its operations.
The Sunday Times
CHANCELLOR: NO PLAN B DESPITE DEBT DOWNGRADE
George Osborne yesterday vowed that there would be no Plan B to kickstart the economy as he fought to shore up market confidence following the loss of Britain's AAA credit rating.
CARLYLE POISED TO PILE INTO AXMINSTER
A giant American private equity firm is preparing to sweep up the historic Axminster Carpets business, which will plunge into administration this week.
RBS TO OFFLOAD U.S. BANKING BUSINESS
The Royal Bank of Scotland is planning to cave in to the demands of its regulator and outline plans to put its American retail arm, Citizens, on the market next week.
MARKS & SPENCER SUFFERS FASHION SALES SLUMP
Marks & Spencer failed to pull in new year sales shoppers, with reports suggesting it lost ground to rivals Primark and Zara.
VINCE CABLE PLAYS DOWN LOSS OF PRIZED AAA RATING
Vince Cable dismissed the loss of Britain's prized AAA credit rating as "background noise."
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.