PRESS DIGEST- British Business - Feb 28

Thu Feb 27, 2014 7:31pm EST

Feb 28 - 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

GLAXO BONUSES HURT BY CHINA SCANDAL

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Bonuses for GlaxoSmithKline's top executives were "lower than they otherwise might have been" last year due to a major bribery scandal in China that has dogged the company since June, the company said in its annual report.

BRITISH AMERICAN TOBACCO THREATENS LEGAL CHALLENGE TO PLAIN PACKAGING PROPOSALS

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British American Tobacco has threatened to take the UK government to court over proposals to enforce plain packaging on cigarette packages.

The Guardian

STANDARD LIFE WARNS IT MAY QUIT AN INDEPENDENT SCOTLAND

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Standard Life, the Edinburgh-based financial services group, became the largest and most influential Scottish firm yet to warn about the possible impact of independence and said it was setting up English subsidiary companies in case it decided to relocate.

BANK OF ENGLAND IDENTIFIES NEED TO SHELTER HOMEOWNERS FROM INTEREST SPIKE

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The Bank of England's base rate would peak close to 3 percent to protect mortgage payers from a big increase in monthly interest payments, a senior Bank of England official said .

The Times

RBS TO SLIM DOWN AS LOSSES HIT 8.2 BILLION POUNDS

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Shares in Royal Bank of Scotland slid more than 9 per cent today after the bank revealed a "sobering" £8.24 billion loss and its chief executive revealed a radical restructuring plan.

O2 BEATS VODAFONE TO 1 MILLION 4G CUSTOMERS

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The Spanish-owned network maintained its position as Britain's second-largest mobile operator after adding 222,000 customers in the fourth quarter, bringing its total customer base to 23.9 million.

Sky News

OFGEM DEMANDS BIG SIX RETURN CUSTOMER CASH

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Ofgem will on Friday intensify the pressure on the big six energy companies by demanding that they hand back hundreds of millions of pounds in surplus customer funds.

DEBT MANAGEMENT FIRMS ARE 'FAILING PUBLIC'

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Indebted people who try to get out of financial trouble by using the services of consolidation firms are seeing up to four fifths of the money they pay going on fees and charges rather than their debts, a Sky News investigation has found.

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