PRESS DIGEST-British Business - Sept 5
Sept 5 (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.
BANK OF ENGLAND SLAMS NEVILLE RICHARDSON ACCOUNT OF CO-OP WOES
The Bank of England has launched an extraordinary attack on the former chief executive of Co-operative Bank Plc, Neville Richardson, refuting his claims that the lender's problems had little to do with its takeover of the Britannia Building Society.
BRITISH CAR SALES TO ACCELERATE, SAYS MOODY'S
The UK car market will grow more than expected this year, according to global credit rating agency Moody's. Researchers are predicting a 7.6 percent rise in sales to 2.2 million for 2013, rather than the 5 percent decline they had been expecting.
SAMSUNG UNVEILS GALAXY GEAR AS SMARTWATCH RACE KICKS OFF
Samsung Electronics Co Ltd unveiled its much-anticipated Gear, an Android-powered $299 device which works as an extension to a limited number of its phones. With a 1.63 inch screen it shows incoming calls and messages, has voice control, a basic camera and can also be used to make calls.
STRONG SERVICES DATA SIGNALS UK GROWTH IS ON TRACK TO OUTSTRIP REST OF EUROPE
Britain's recovery is on track to outstrip the rest of Europe following a strong performance by the services sector in August. The purchasing managers index, published by Markit, jumped to a new post-financial-crash high of 60.5 in August, up from 60.2 in July and its highest level since December 2006.
BOOKINGS DIP COULD HIT RYANAIR PROFITS
The first profit warning in a decade sent Ryanair Holdings Plc's shares into a tailspin on Wednesday, with analysts saying that its era of unchallenged dominance had come to a close. The low-cost carrier blamed a "general underlying weakness" and heightened price competition for leaving it unable to meet market expectations for full-year profit.
BANKS STALL OVER 'SWAP CONTRACTS' COMPENSATION
Britain's banks have settled fewer than one in a hundred complaints about mis-sold interest rate hedging products - or swaps - despite reviewing thousands of cases in the past 14 months.
BOOMING DYSON CALLS FOR MORE ENGINEERS
The chief executive of Dyson has called for schools to do more to encourage students into engineering as the maker of bagless vacuum cleaners today unveiled another set of record results. Max Conze revealed the company is planning to hire 650 engineers this year, including 250 in the UK, but warned it was facing "a lot of competition for that talent".
SFO WILL TAKE JAPANESE CAMERA GIANT OLYMPUS TO COURT OVER 'FALSE ACCOUNTS'
The Serious Fraud Office today said it will prosecute Japanese camera and medical scanners giant Olympus Corp over the fraud that saw chief executive Michael Woodford sacked for whistleblowing.
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