PRESS DIGEST- British Business - Sept 13

Sept 13 Thu Sep 12, 2013 8:33pm EDT

Sept 13 (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 MAY HAVE TO RAISE EXTRA 50 BLN STG UNDER EMERGING 'BASEL IV'

Britain's major banks may have to raise 50 billion pounds ($79.13 billion) in fresh capital as international regulators "gold-plate" the new industry standards, according to a KPMG report released on Thursday. ()

EU MARKET REGULATOR HAS NO POWER TO BAN SHORT-SELLING, SAYS TOP ADVISER TO EUROPEAN COURT OF JUSTICE

Emergency powers allowing the EU's Paris-based financial markets regulator to ban short-selling are illegal and should be scrapped following a British challenge, according to a legal opinion from the European courts. ()

HOMEBASE SALES SIZZLE AS DIY CHAIN POSTS STRONGEST GROWTH IN A DECADE

Britain's sizzling summer helped Homebase to post its strongest quarterly sales growth in more than a decade, as the parent company which also owns Argos said it was in "good shape" ahead of the key Christmas trading period. ()

The Guardian

VODAFONE GETS GREEN LIGHT FOR 6.5 BLN STG KABEL DEUTSCHLAND TAKEOVER

Vodafone is to take control of Germany's largest cable company after 75 percent of Kabel Deutschland shareholders voted in favour of a buyout. ()

ROYAL MAIL STAFF SET TO STRIKE AFTER MINISTERS UNVEIL PLANS FOR 3 BLN STG SELL-OFF

Royal Mail staff are set to disrupt postal services in a rolling programme of strikes after ministers unveiled plans for a 3 billion pound privatisation of the postal service within six weeks. ()

JOHN LEWIS PARTNERSHIP PROFITS FALL NEARLY 40 PCT

A holiday pay underpayment and a bill for redundancy costs led to a near 40 percent dive in half-year profits at the John Lewis Partnership despite strong sales. ()

MORRISONS CUTS BACK BIG STORE GROWTH TO FOCUS ON SMALL SHOPS AND ONLINE SERVICE

The supermarket "race for space" is history, Morrisons said on Thursday as it joined Tesco in scaling back big store growth to focus on online shopping and smaller convenience stores amid slowing sales and profit. ()

The Times

MIRROR GROUP SHARES FALL AS IT REVEALS PHONE HACKING PROBE

The newspaper group Trinity Mirror confirmed on Thursday that it is being investigated as a corporate suspect over allegations of phone hacking. ()

KIER GROUP BUILDS MOMENTUM DESPITE FALLING PROFITS

Signs of recovery in construction and maintenance has encouraged Kier Group to increase its final dividend, despite a fall in annual profits. ()

VIRGIN ACTIVE'S NEW CHIEF TO MAKE A DASH FOR EUROPE

Virgin Active will today appoint a new chief executive as the fitness chain limbers up for expansion into countries including France, Germany and China en route to a stock market listing. ()

The Independent

RETAILERS IN TALKS OVER CASH FOR FACTORY VICTIMS

Some of the biggest high street clothes retailers have met in Geneva to discuss providing up to 54 million euros ($71.87 million) compensation to the victims of two garment factory disasters in Bangladesh and improving safety. ()

STORES DEALS BRING DUNKIN' DONUTS TO UK

Dunkin' Donuts will have another bite at the UK market after announcing plans to open 150 new restaurants over the next five years. ()

STANLEY GIBBONS PLANS 42 MLN STG BID TO COIN IT IN

Stanley Gibbons, the rare stamps dealership, could become a giant of the coin collecting world after yesterday making a 42 million pound approach to numismatic specialist Noble Investments. ()