PRESS DIGEST - British Business - June 12

June 12 Tue Jun 11, 2013 7:23pm EDT

June 12 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.

The Telegraph

UK CHALLENGES 'ILLEGAL' EU POWER TO BAN SHORT-SELLING

The Government has challenged new European Union powers to regulate financial markets as "unlawful" and an "institutional revolution" by the back door, during a legal challenge in Europe's Luxembourg court.

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RBS 'SHOULD BE MORE LIKE CANADIAN BANK', DOCUMENTS SHOW

Davide Serra, co-founder of Algebris Investments, was pictured clutching a presentation on the Royal Bank of Scotland , entitled "the case for improving viability", which appeared to recommend that the lender should become more like a Canadian bank.

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FURNITURE RETAILER DWELL CLOSE TO COLLAPSE

Dwell, the upmarket furniture retailer, is close to collapsing into administration, putting 200 jobs at risk.

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BAE SNAPS UP CYBER SECURITY RECRUITS

Almost half of the trainees recruited by BAE Systems this year will join the defence giant's burgeoning cyber and security business as companies look to protect themselves against increasing cyber threats.

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LLOYDS CUSTOMERS URGED TO FIGHT PPI REJECTIONS

Campaigner Martin Lewis was today telling customers that having a PPI claim rejected by Lloyds was "part of the dance", following an expose of the bank's complaints procedures.

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SEVERN TRENT INVESTORS 'DISAPPOINTED' OVER LACK OF COMMUNICATION

The board of Severn Trent is facing pressure from investors after a Borealis-led consortium abandoned a 5.3 billion pound bid approach following an alleged lack of communication between the two sides.

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The Guardian

NEWS CORP SHAREHOLDERS APPROVE BREAKUP PLAN

News Corp shareholders formally approved a plan to split the media giant's troubled publishing assets from its entertainment division on Tuesday at a special meeting in New York.

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U.S. HIRING OUTLOOK HEALTHIER THAN ANY TIME SINCE 2008

More employers in the United States plan to hire workers in the next quarter than in any period since the fourth quarter of 2008, according to a survey by Manpower Group, the global employment services giant.

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The Times

GSK HALTS DRUG TRIALS OVER 'FAKE RESEARCH' SCANDAL

The top scientist at GlaxoSmithKline's drug development operation in China has been dismissed for allegedly fabricating research into a potentially groundbreaking approach to tackling multiple sclerosis.

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BRITVIC MERGER WITH AG BARR IN DOUBT AS SOFT DRINKS RIVALS PLAY HARDBALL

A 2 billion pound-plus merger between Britvic and A.G. Barr was looking increasingly unlikely last night, despite provisional clearance for the deal from the Competition Commission.

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PARTIES TRADE INSULTS AFTER BANKER LOSES KNIGHTHOOD

The disgraced former chief executive of HBOS has been stripped of his knighthood after the bank he ran needed a £20.5 billion taxpayer rescue.

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The Independent

THE REAL LEGACY OF RECESSION IS FALLING WAGES AND PRODUCTIVITY

Britain is experiencing the lowest productivity levels ever recorded in a recession - despite more people staying in work and enduring lower wages, a new study claims today.

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GALLIFORD TRY IN 2.5 BLN STG FLOOD DEAL

The construction group Galliford Try has grabbed a place on a 2.5 billion pound flood defence contract that has suffered from flaws similar to the West Coast rail fiasco.

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