PRESS DIGEST - British Business - July 18

July 18 Wed Jul 17, 2013 8:25pm EDT

July 18 (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

BRITISH EXECUTIVE AT GLAXOSMITHKLINE BANNED FROM LEAVING CHINA

A senior British executive at GlaxoSmithKline has been banned from leaving China as authorities investigate multi-million pound bribery claims against the drugs giant. ()

YOU'RE IMPOVERISHING THOUSANDS OF PENSIONERS, CO-OP'S REGULATOR TOLD

Britain's financial regulator has been accused of impoverishing savers by ordering the troubled Co-operative Bank to suspend 7 million pounds of interest payments to bondholders last week. ()

BT AND GOVERNMENT ATTACKED ON BROADBAND

Telecoms executives attacked the Government for "moving the goalposts" on a subsidy scheme to provide superfast broadband to rural homes and businesses so that BT was effectively awarded 1.2 billion pounds in public money without competition. ()

ACTIVIST INVESTOR NELSON PELTZ PUSHES PEPSI TO BUY CADBURY-OWNER MONDELEZ

Activist investor Nelson Peltz says he wants soft drinks giant PepsiCo to buy Cadbury owner Mondelez and spin off its own underperforming beverage unit. ()

The Guardian

BARCLAYS FIGHTS U.S. ELECTRICITY PRICE MANIPULATION FINE THROUGH THE COURTS

Barclays has pledged to fight a $470 million penalty for allegedly manipulating electricity prices in California by taking the case through the U.S. judicial system. ()

SEVERN TRENT SPENT 19 MLN STG FENDING OFF TAKEOVER APPROACH

Severn Trent has revealed that it ran up a 19-million-pound bill - almost 9 percent of this year's pretax profit - fending off a takeover approach. ()

UK UNEMPLOYMENT FALLS 57,000 TO 2.51 MLN, OFFICIAL DATA SHOWS

The number of people claiming unemployment benefit dropped by 21,200 in June, the fastest rate of decline in three years. ()

HEATHROW THIRD RUNWAY PLANS WILL BRING 'LOUDER SKY OF SOUND', SAY OPPONENTS

Heathrow airport has revealed three proposals for a third runway, putting tens of thousands of homes either under new flight paths or at risk of demolition. ()

The Times

MPC UNANIMOUS ON HOLDING OFF ON STIMULUS

Mark Carney has received an early vote of confidence from colleagues at the Bank of England, with the Monetary Policy Committee voting unanimously against a resumption of economic stimulus at the latest meeting. ()

OSBORNE MUST TRY HARDER TO DRIVE RECOVERY, WARNS IMF

The International Monetary Fund has renewed its call for the Chancellor to do more to boost the sluggish economy, just days after raising its growth forecast for Britain. ()

J.C. FLOWERS TO BUY HALF OF NORTHERN ROCK LOANS

An American private equity company is set to buy 450 million pounds of Northern Rock loans from the government in what will be one of the biggest deals of its type. ()

The Independent

SMITHS WARNS PROFITS WILL BE HIT BY PROBLEMS IN DETECTION DIVISION

The airport security-scanner maker Smiths Group warned that problems at its detection business would knock 15 million pounds off operating profit this year. ()

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