PRESS DIGEST- British Business - Dec 12
Dec 12 (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.
RBS AGREES $100 MLN U.S. SETTLEMENT OVER SANCTION BREACHES
The Royal Bank of Scotland has agreed to pay $100 million to a trio of U.S. regulators to settle civil allegations that the bank broke sanctions relating to Iran, Sudan, Cuba and Burma. ()
FIRSTGROUP INVESTOR CLAIMS HE HAS BACKING FOR BREAK-UP
The activist investor proposing a break-up of FirstGroup said he had early expressions of support from other investors as he claimed the group's U.S. assets alone were worth more than the current share price. ()
FERROVIAL EYES HEATHROW'S REGIONAL AIRPORTS
Spain's Ferrovial, the biggest investor in Heathrow, has expressed an interest in buying the airport's three regional businesses, the Aberdeen, Glasgow and Southampton airports. ()
GSK TO PUMP 200 MLN STG INTO UK MANUFACTURING
GlaxoSmithKline is to pour 200 million pounds ($327.4 million) into two of its oldest UK manufacturing sites as it continues to buck industry trends by investing in Britain. ()
SUPERMARKETS URGED TO BIN "DAMAGING" FUEL PROMOTIONS TIED TO GROCERY SHOPPING
Independent forecourts beg Office of Fair Trading to reopen petrol market investigation after Australia's biggest supermarkets agree to limit fuel promotions funded by other parts of their business. ()
ASDA CLAIMS BLACK FRIDAY WAS A 'PHENOMENON' IN UK
The boss of supermarket group Asda claims its U.S.-style "Black Friday" discounts were a "phenomenon" with customers and has pledged to run the initiative again next year despite scuffles between customers battling for products. ()
LLOYDS BANKING GROUP FINED RECORD 28 MLN STG IN NEW MIS-SELLING SCANDAL
Former and current directors of Lloyds Banking Group could face having their bonuses clawed back, after the bailed-out bank was hit with a record £28m fine for putting staff under intense pressure to sell products customers did not want - or face demotion and pay cuts.
HOUSE PRICE RISES REALISE BUBBLE FEARS, SAYS ECONOMIST
The average UK home has seen its value rise by 10,329 pounds over the past year, or by 28.30 pounds a day, according to figures from property search engine Zoopla. This follows research from a leading economics professor that around three-quarters of properties in the UK are overvalued, with a 93 percent probability that London is already in the grip of a house price "bubble". ()
BORIS FURY AS COMMISSION 'PLUMPS FOR HEATHROW'
Boris Johnson called into question the independence of the Airports Commission yesterday amid claims it is backing Heathrow to the exclusion of a new hub airport. ()
MILLBURN INSURANCE SLIPS INTO ADMINISTRATION
A specialist insurer that was founded in the aftermath of the Second World War has collapsed into administration in a rare example of an underwriter failing. ()
GLENCORE OIL TRADER ANDREW KEARNS LOSES WRONGFUL DISMISSAL CLAIM AFTER HE WAS SACKED FOR 'HEAVY NIGHT' OF DRINKING
An oil trader sacked because he was said to be not in a fit state after a heavy night out in Singapore has lost his damages action for wrongful dismissal and now faces having to pay at least 150,000 pounds in costs. ()
VICTOR DAHDALEH CORRUPTION CASE: BILLIONAIRE'S FRAUD TRIAL COLLAPSES AFTER KEY SFO WITNESSES REFUSE TO GIVE EVIDENCE
A major anti-corruption trial involving a billionaire Labour donor who is a friend of Tony Blair collapsed yesterday following an embarrassing error by Britain's Serious Fraud Office. ()
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