PRESS DIGEST- British Business - Oct 25

Thu Oct 24, 2013 8:48pm EDT

Oct 25 (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

AMAZON: WE ARE REALLY GOOD FOR THE UK

The boss of Amazon in the UK has insisted the rapid growth of the online retailer is good for Britain despite criticism about the amount of tax it pays and the turmoil facing high streets across the country. ()

GOVERNMENT AND NATIONAL GRID PLAN EMERGENCY MEASURES TO PREVENT BLACKOUTS

Users will be financially incentivised to turn their power off for short periods at peak times, easing the burden on the national system, while energy companies that had planned to decommission power plants will be paid to "bring them back up and running at times of stress". ()

The Guardian

ROYAL MAIL WAS WORTH 10 BLN STG, SAID JPMORGAN. IT SOLD FOR 6 BLN POUNDS LESS

One of the world's largest investment banks told ministers ahead of the Royal Mail flotation that they could sell the postal business for 10 billion pounds ($16.17 billion), around two and a half times more than the government finally received for it. ()

GRANGEMOUTH CRISIS: UNITE UNION NOW ACCEPTS PLANT RESCUE PLAN

Unite's leader, Len McCluskey, said shop stewards had decided they had to embrace the survival plan in the wake of Ineos's decision to close the petrochemicals complex. ()

PRIMARK OFFERS LONG-TERM COMPENSATION TO RANA PLAZA FACTORY COLLAPSE VICTIMS

The clothes retailer Primark has offered to compensate injured workers and relatives of those who died in the Rana Plaza factory disaster in Bangladesh. ()

UK CAR PRODUCTION PASSES 1.5 MLN AMID GROWING CONSUMER CONFIDENCE

Car production in the UK has continued its upward surge with more than 1.5 million vehicles built over the past 12 months - a volume unmatched since the financial crisis began. ()

The Times

SFO TELLS COMPANIES NOT TO 'BURY' SUSPICIONS OF FRAUD

Corporate lawyers are advising companies not to report suspected bribery and corruption to Britain's Serious Fraud Office because they can no longer be guaranteed to avoid a criminal penalty, the director of the SFO said yesterday. ()

FRESH TURMOIL AT G4S AFTER RESIGNATION

G4S, the FTSE 100 security company, has replaced its UK chief executive after only a year in the job. The company made its announcement as it tries to repair its relationship with the British Government over allegations that it overcharged on contracts for the electronic tagging of offenders. ()

EMERGING MARKETS LEAVE UNILEVER COLD

Sales at Unilever fell to their lowest level in four years after an "especially soft" third quarter in which the consumer goods giant was hit by a sharp slowdown in emerging markets. ()

The Independent

MARK CARNEY SHIFTS AWAY FROM MERVYN KING WITH BANK SUPPORT PLAN

The Bank of England Governor, Mark Carney, last night unveiled an overhaul of the way the Bank provides cash to troubled lenders, while expressing his strong support for the City as a hub of global finance. ()

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