PRESS DIGEST- British Business - Dec 13

Thu Dec 12, 2013 8:53pm EST

Dec 13 (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

GLG FINED $9 MLN FOR OVERVALUING STAKE

One of London's largest hedge funds, GLG Partners, has been fined $9 million after it allegedly told investors that its assets were worth $160 million more than they really were. ()

EGGBOROUGH COAL PLANT CLOSURE 'WOULD PUSH UP BILLS'

Household energy bills could be pushed higher if Eggborough power plant, which supplies 4 percent of the UK's power, is forced to close, the company has claimed. ()

The Guardian

CENTRICA-LED CONSORTIUM POISED FOR IRISH ENERGY TAKEOVER

A consortium led by Centrica, the owner of British Gas, has been made preferred bidder by Irish ministers to take control of the state-owned energy group, Bord Gais Energy, for around 1 billion euros ($1.38 billion). ()

FORMER CITY MINISTER MYNERS JOINS CO-OP GROUP BOARD ON 1 POUND SALARY

Former minister Myners is to lead the overhaul of the management structure of the Co-operative Group after scandals at its banking arm that have seen control ceded to its bondholders and its former chairman accused of using illegal drugs. ()

G4S AND SERCO HAND OVER OFFENDER TAGGING CONTRACTS OVER FRAUD CLAIMS

Security companies G4S and Serco are to hand over their contracts to electronically tag criminals following fraud allegations over the way they charged the government. ()

EE THREAT TO RURAL 4G BROADBAND IF SPECTRUM FEES ARE QUADRUPLED

Britain's largest mobile network EE has waded into the cost of living debate, saying if the government continues to raise spectrum fees and clamp down on mobile charges it will have to scale back plans to bring 4G mobile broadband to rural areas. ()

The Times

BIG FOUR AUDITORS FACING REVIEW

The Big Four accountancy firms are failing to properly question the books of banks and building societies despite being told to raise their game after the financial crisis. ()

SPORTS DIRECT GETS SHIRTY OVER KIT DISPUTE

Billionaire retailer Mike Ashley is tangled in a dispute with adidas after the German sportswear manufacturer refused to supply the Chelsea kit to Sports Direct next season. ()

The Independent

AT THE BANK OF ENGLAND, NOT EVERYONE AGREES WITH MR CARNEY

A Bank of England rate-setter yesterday said that Threadneedle Street's flagship forward guidance policy was likely to have had little impact on the economy and appeared to clash with Governor Mark Carney over the timing of possible rate rises. ()

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