PRESS DIGEST- British Business - Dec 10

Mon Dec 9, 2013 8:24pm EST

Dec 10 (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

BANKERS FACE 'ANNUAL HEALTH CHECK' UNDER REFORMS

Banks will be required to give regulators an annual health check on all their senior staff to confirm they are suitable to keep their "authorised" status in the UK. ()

DRAX'S 2 BLN STG 'CLEAN COAL' PROJECT WINS GOVERNMENT FUNDING

Plans to capture carbon dioxide emissions from power stations and bury them under the North Sea moved a step closer on Monday as the British Government awarded funding to Drax to develop a proposed "clean coal" plant in Yorkshire. ()

H&M COULD RAISE PRICES TO PAY FOR HIGHER WAGES

Swedish fashion giant H&M, which has 226 stores in the UK, has warned it could raise retail prices in order to pay better wages to some of the world's poorest textile workers. ()

The Guardian

UK ECONOMY NEEDS SUSTAINED LOW INTEREST RATES, SAYS MARK CARNEY

Britain's economy needs sustained low interest rates to spur growth and repair the stricken banking sector, the Bank of England Governor Mark Carney has warned, in a strong rebuttal of critics calling for a rapid rate hike in response to a galloping housing market. ()

ROYAL MAIL WORKERS WIN PAY INCREASE OF 9 PCT OVER THREE YEARS

Royal Mail staff will get a pay increase of more than 9 percent over three years after the company and its union announced what they said was a groundbreaking legal agreement on industrial relations at the newly privatised company. ()

The Times

RYANAIR BOWS TO PASSENGERS ON BAGGAGE

Passengers habitually stung by Ryanair's hefty fees for overweight bags were given relief yesterday as the Irish airline halved its charges as part of an attempt to overhaul its dismal reputation for customer service. ()

BRITONS FLICK SWITCH ON THE BIG SIX

The number of homes switching energy supplier to secure a better deal hit a three-year high last month in the wake of the inflation-busting rises in gas and electricity bills. ()

The Independent

HSBC RETAIL ARM SPIN-OFF TALK FAILS TO IMPRESS THE CITY

City insiders today played down talk that HSBC could be planning to float off a slug of its UK High Street business with a potential value of 20 billion pounds ($32.77 billion). ()