PRESS DIGEST- British Business - Dec 12

Wed Dec 11, 2013 8:49pm EST

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.

The Telegraph

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. ()

The Guardian

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". ()

The Times

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. ()

The Independent

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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