PRESS DIGEST - British Business - July 2

July 2 (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

BANKS ACCUSED BY EU OF STIFLING DERIVATIVES COMPETITION

Several of the world's largest investment banks have been accused by the European authorities of abusing their position to exclude competitors from lucrative trading in credit derivatives. ()

MAJOR BANKS STILL VULNERABLE TO MONEY LAUNDERING

Britain's major banks remain vulnerable to being used to fund terrorism and money laundering by criminal gangs, despite being fined billions of pounds in recent years for failing to crackdown on illegal financing. ()

The Guardian

EUROZONE UNEMPLOYMENT HITS FRESH HIGH

The unemployment rate across the eurozone hit a fresh record in May, as the recession continued to affect workers around the region and young people again suffered most. ()

EASYJET FOUNDER TO VOTE AGAINST AIRLINE'S PLAN TO BUY 135 NEW AIRBUS PLANES

EasyJet's founder and largest shareholder, Sir Stelios Haji-Ioannou, has said he will vote against the budget airline's plan to buy 135 new aircraft, at an investor meeting later this month. ()

ROYAL MAIL UNION REJECTS 8.6 PCT PAY RISE

Royal Mail's union has rejected a 8.6 percent pay rise as a "misleading and unacceptable" sweetener from a company desperate to win over staff ahead of plans to privatise the 497-year-old postal service. ()

SAINSBURY'S ACCUSED OF TAX HYPOCRISY

Sainsbury's chief executive, Justin King, a vocal critic of tax avoidance, has launched the supermarket's first mobile phone service with Vodafone, which has been heavily criticised for its use of tax havens. ()

The Times

SIGNS OF RECOVERY EMERGE ON EUROPEAN PERIPHERY

The troubled euro zone economy showed tentative signs of life last month as painful rates of contraction in the periphery countries' manufacturing sectors started to ease. ()

GOOD NEWS FOR CARNEY AFTER HIS BATTLE WITH BANK STATION

Mark Carney's first day at the Bank of England was marked by stronger economic readings that will raise questions over whether policymakers will back a new round of monetary easing. ()

The Independent

ROTHERMERE BUYS RIGHTS TO BEEF UP CONTROL OF DMGT

Viscount Rothermere today strengthened his financial hold over Daily Mail & General Trust by buying out a 29.3 percent voting stake belonging to family members in a 50 million pound transaction. ()

PAYDAY LENDING ADVERTISING FACES BAN UNDER HARD-HITTING NEW RULES

Payday lending advertising could be banned under hard-hitting new rules being considered by the City Watchdog. ()