PRESS DIGEST- British Business - Feb 14

Thu Feb 13, 2014 8:37pm EST

Feb 14 (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 Guardian

LLOYDS BANKING GROUP CHIEF ANTONIO HORTA-OSORIO GETS 1.7 MLN STG BONUS

Lloyds Banking Group has awarded Chief Executive Antonio Horta-Osorio a 1.7 million pound ($2.83 million) bonus after declaring itself "a normal bank" five years after its bailout. ()

ROLLS-ROYCE WARNS DEFENCE CUTS TO TAKE TOLL ON 2014 REVENUES AND PROFITS

Rolls-Royce has become the latest major UK company to warn on profits as the industrial group called an end to a decade of revenue growth and wiped more than 3 billion pounds off its share price. ()

SHELL TO SELL THREE NORTH SEA OIL ASSETS

Shell is to sell off three oil and gas producing assets in the North Sea as the new chief executive's divestment gathers pace. The disposal of the Anasuria, Nelson and Sean platforms and production systems come at a sensitive political time when other energy bosses have signalled that the forthcoming referendum on Scottish independence is undermining the investment climate. ()

The Times

EX-BOSS OF LLOYDS FACES LOSING BONUS OVER INSURANCE SCANDAL

The former chief executive of Lloyds Banking Group, Eric Daniels, is facing the confiscation of a past bonus over the escalating insurance mis-selling bill, which sent the bank to an after-tax loss of 802 million pounds last year. ()

HOMESERVE FINED 30.6 MLN STG FOR YEARS OF MIS-SELLING

The board of directors of HomeServe's British division consistently failed to address regulatory and compliance problems in the run-up to its damaging mis-selling scandal, the City regulator said yesterday as it handed the insurer a record fine. ()

NUCLEAR OVERHAUL WARMS EDF PROFITS

EDF Energy's UK profits have been charged after the French company spent heavily to improve the performance of its eight nuclear power stations in Britain. ()

The Independent

Tate & Lyle profit warning prompts Chinese takeover speculation

Shares in Tate & Lyle crashed 16 percent in early trading after the sweetener-maker warned on profits, triggering City speculation of a potential Chinese takeover bid. ()

FCA STUDY WILL TACKLE THE ANNUITIES 'MINEFIELD'

The annuities market is not working for consumers, Britain's Financial Conduct Authority has concluded after an extensive review. ()

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