PRESS DIGEST - British Business - Aug 1

Wed Jul 31, 2013 8:35pm EDT

Aug 1 (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

RBS POISED TO APPOINT ROSS MCEWAN AS CHIEF EXECUTIVE

RBS could appoint insider Ross McEwan as its new chief executive as soon as Thursday, with the bank in late-stage talks with City regulators. ()

BRITISH GAS PLANS TO OFFER 'FREE ELECTRICITY' ON SATURDAYS

British Gas is planning to offer customers "free electricity" on Saturdays, when national power demand is lower, in a radical step that could reduce the strain on the power grid during the week. ()

CITY INVESTORS TO LIST 1.5 BLN STG VEHICLE TO BUY RBS UNIT

A group of the City's best known investors are to float a 1.5 billion pound vehicle to buy the Royal Bank of Scotland's 316 "Rainbow" branches before they have found out if they have won an auction for them. ()

The Guardian

IMF FINDS $11 BILLION BLACK HOLE IN GREEK FINANCES

The International Monetary Fund warned the euro zone yesterday that it may be forced to write off a chunk of Greece's debt after identifying an $11 billion black hole in the finances of the recession-stricken country. ()

EADS RENAMED AIRBUS IN COMPANY SHAKEUP

The Franco-German aerospace group EADS is renaming itself Airbus, after its dominant commercial planes business that makes the A380 superjumbo. ()

INVENSYS AGREES TAKEOVER BY FRANCE'S SCHNEIDER

The industrial software firm Invensys has agreed to be taken over by France's Schneider Electric in a 3.4 billion pound deal, marking the latest swoop on a British company by a foreign rival. ()

The Times

NEW SIEMENS BOSS VOWS TO RESTORE MORALE BUT DISMISSES TALK OF CRISIS

Siemens has lost ground to its rivals but is not in crisis, its new chief executive said yesterday, after his predecessor was dumped in a boardroom coup. ()

RYANAIR CHIEF: FEES FOR HAND LUGGAGE 'INEVITABLE' ON FLIGHTS

The boss of Ryanair has declared all-out war on luggage by pledging to price passengers out of bringing bags on flights - and even hinting at fees for hand baggage. ()

DIAGEO GOING DOWN WELL IN EMERGING MARKETS

Strong sales in the U.S. and emerging markets have warmed the spirits of Diageo.

The world's biggest producer of alcoholic drinks, whose brands include Guinness, Johnnie Walker and Baileys, said organic net sales were up 5 percent in the year to June 30. ()

The Independent

SLOWING U.S. ECONOMY LIKELY TO BE BOOSTED AS WASHINGTON EASES BELT-TIGHTENING

U.S. economic growth likely slowed sharply in the second quarter, but it is poised to regain momentum as the burden brought on by belt-tightening in Washington eases. ()

BAT AIMS TO LEAD GROWING MARKET FOR E-CIGARETTES MARKET

British American Tobacco is aiming to become the UK's lead supplier of e-cigarettes after it became the first major tobacco company to put them on sale this week. ()

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