PRESS DIGEST- British Business - Jan 8

Tue Jan 7, 2014 8:43pm EST

Jan 8 (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

EUROZONE LOSING 'SAFETY MARGIN' AGAINST DEFLATION TRAP AS CORE GAUGE FALLS TO RECORD LOW

Eurozone inflation has fallen to the lowest recorded under two key measures, raising the risk of a textbook deflation trap if recovery falters or there is an unexpected shock. ()

IMF TO REVISE UP GLOBAL GROWTH FORECASTS, SAYS CHRISTINE LAGARDE

The International Monetary Fund will revise upward its global growth forecast in about three weeks, Managing Director Christine Lagarde has revealed. ()

The Guardian

FCA STANDS BY DECISION TO SANCTION PAUL FLOWERS AS CO-OP BANK CHAIRMAN

The regulator who authorised Paul Flowers's appointment as chairman of the Co-operative Bank faced intense criticism from MPs on Tuesday after he insisted he stood by the decision to allow the now disgraced Methodist minister to take on the role after a 90-minute interview in 2010. ()

JPMORGAN CHASE TO PAY MORE THAN $2BLN IN PENALTIES FOR MADOFF TIES

JPMorgan Chase & Co has agreed to pay a record $2 billion to settle charges that it knowingly ignored evidence that convicted fraudster Bernard Madoff's massive Ponzi scheme was "too good to be true." ()

The Times

GATWICK CHIEF APOLOGISES FOR FLOOD FAILURE

Gatwick Airport ignored its own contingency plan when floods struck on Christmas Eve and tried to get as many passengers away as possible, even though it lacked sufficient staff or bus drivers to transfer travellers between terminals, Parliament was told on Tuesday. ()

HARVEY NICHOLS' NEW CHIEF SETS SIGHTS ON CHINA

A former Burberry executive at the forefront of the designer's transformation into a global powerhouse has been named as the new boss of Harvey Nichols and set out plans of how she plans to "supercharge" the luxury department store chain. Stacey Cartwright said that she wanted to introduce a Harvey Nichols own-brand clothing range, roll out more overseas stores, launch transactional websites and weigh up opening a store in mainland China. ()

The Independent

EASYJET NARROWS GAP WITH RYANAIR AS PASSENGER NUMBERS TAKE OFF

EasyJet flew more than 60 million passengers last year as more Britons spent Christmas overseas. In total, the airline flew 61.33 million passengers in 2013, which is 3.6 per cent more than during the previous 12 months. EasyJet's growth in 2013 helped it to narrow the gap with Europe's biggest budget carrier, Ryanair, which saw passenger numbers grow only 2.3 percent last year. ()

MAN GROUP DENIES IT MISLED RICHARD DESMOND OVER 'INCOMPREHENSIBLE' DEAL

Hedge fund giant Man Group has brushed off Richard Desmond's 20-million-pound High Court claim for losses on a financial product, insisting it did not even act as the counter-party in the disputed transaction. ()