PRESS DIGEST- British Business - Sept 18

Sept 18 Tue Sep 17, 2013 8:28pm EDT

Sept 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

IAG RULES OUT MORE EUROPEAN BUYS

International Airlines Group, the owner of British Airways and Spain's Iberia, has ruled out any further acquisitions in Europe for now as it sees better value elsewhere. ()

MARIGAY MCKEE JOINS SAKS

Few people have heard of her outside the fashion industry, but Marigay McKee, the British woman who joined Harrods as a beauty buyer in 1999, will become president of the iconic New York department store Saks. ()

NETWORK RAIL FACES SCRUTINY OVER PAY AND SAFETY RECORDS

Network Rail is to be forced to lift the lid on bonuses and pay to junior managers, its safety record and the way it runs and maintains Britain's rail infrastructure. ()

DEBENHAMS SALES RECOVER ON BACK OF RAPID ONLINE GROWTH

The warm summer weather and a sharp increase in online sales has put department store chain Debenhams back on track after a profits warning earlier in the year. ()

The Guardian

LLOYDS BOSS IN LINE FOR BIGGER BONUS AS GOVERNMENT MAKES 60 MLN STG ON SHARE SALE

Antonio Horta-Osorio, the boss of Lloyds Banking Group , is in line for a bigger-than-expected bonus after the government sold off the first tranche of its stake in the bailed-out bank for a 60 million pound ($95.42 million) profit. ()

SLUMPING CAR SALES UNDERLINE FRAGILITY OF EUROZONE ECONOMY

Slumping car sales across the EU in August have underlined the fragility of the eurozone economy, with the cumulative figures for the year to date at a record low. ()

The Times

FUND MANAGERS POISED TO JOIN FIGHT AGAINST RBS

Prudential, Legal & General and Standard Life are considering whether to join two other shareholder action groups which claim that Royal Bank of Scotland misled them about its strength as the financial crisis was taking hold. ()

PENTHOUSE'S TROUBLES LAID BARE AFTER LOSSES

FriendFinder Networks, the owner of Penthouse magazine and websites such as adultfriendfinder.com, had assets of less than $10 million but liabilities of $500 million to $1 billion, according to the Chapter 11 filing. It had struggled to make loan payments and is seeking to cut debt. ()

The Independent

U.S. COURT INDICTS JPMORGAN 'LONDON WHALE' TRADERS

Two former traders at JPMorgan Chase who were at the centre of the bank's $6.2 billion London Whale losses have been indicted in a U.S. court for hiding huge trading losses. ()

BARCLAYS TO REFUND 300,000 CUSTOMERS AFTER ADMIN ERROR

Barclays is to pay out up to 100 million pounds to around 300,000 of its personal loan customers after making mistakes on their paperwork. ()

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.