PRESS DIGEST - British Business - May 14

Mon May 13, 2013 9:14pm EDT

May 14 (Reuters) -

The Times

CO-OP BANK READY TO SELL ASSETS

The future of the stricken Co-operative Bank Plc is under acute doubt as Euan Sutherland, its new chief executive, considers asset disposals, including the property portfolio.

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BLINKX SEES BIGGER PICTURE AS PROFITS FLY

Blinkx Plc, a video search engine, reported a 73 per cent rise in revenue for the year to March to $198 million (£129 million) while pre-tax profit soared nearly 800 percent to $16.7 million. Its cash position also swelled 45 percent.

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ITV GETS A FOOT IN DOOR OF US REALITY TV

ITV is paying $25.65 million for a 60 percent stake in production company High Noon Entertainment and options to buy the rest of the business later. High Noon is known for its hit American reality TV show that documents the struggles and triumphs of a New Jersey baker.

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The Telegraph

BANKING NEEDS TO CHANGE TO ATTRACT YOUNGSTERS, SAYS LLOYDS CHIEF

Lloyds Banking Group chief executive, Antonio Horta-Osorio, has said the banking industry urgently needs to address its image problem if it is to attract the best graduates in future.

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VODAFONE TO GET $3.15 BLN DIVIDEND FROM VERIZON WIRELESS

Verizon Wireless, the biggest US mobile service provider, is to pay its parents Verizon Communications and Vodafone Group Plc a dividend of $7 billion, surprising some analysts who had not expected a big payout.

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The Independent

RED-FACED BLOOMBERG ADMITS 'INEXCUSABLE' PRIVACY BREACH

Bloomberg was today forced to issue a grovelling apology to clients for its "inexcusable" decision to let its journalists use internal customer information in a scandal that has rocked Wall Street and the City.

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BRITISH GAS PLEDGES TO PUT LID ON PRICES AFTER COLD-WEATHER BOOST

British Gas has pledged to keep a lid on future price hikes after the energy giant admitted it made a bumper profit thanks to the prolonged winter.

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The Guardian

BIRMINGHAM AIRPORT CALLS FOR UK-WIDE AVIATION EXPANSION TO HELP ECONOMY

Britain's manufacturers urgently need better flight links out of airports beyond London if they are to power the economic recovery, according to a report from Birmingham airport that seeks to shift the aviation capacity debate away from Heathrow expansion.

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YOUNG PEOPLE HAVE 10 PCT LESS CHANCE OF SECURING A JOB, TUC STUDY FINDS

Young people are 10 percent less likely to be in work today than before the recession, the TUC has said ahead of official data tomorrow that is expected to show stubbornly persistent unemployment. Only 58 percent of 18-24 year olds found work in 2013, compared with almost 65 percent in 2009, the unions said, leaving a shortfall of 395,000 jobs.

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