PRESS DIGEST- British Business - March 20

Wed Mar 19, 2014 9:12pm EDT

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

CHATROOM EVIDENCE QUESTIONS BANK OF ENGLAND'S ROLE IN FX PROBE

Regulators are examining evidence relating to a 2012 meeting of currency dealers and Bank of England officials that potentially challenges the central bank's assertion it had not condoned sharing details of client orders. (link.reuters.com/vuj77v)

BP ON COURSE TO WIN FIRST GULF OF MEXICO CONTRACTS IN TWO YEARS

BP is on course to win its first drilling licences in the Gulf of Mexico for almost two years. Of the 31 bids the oil giant has submitted for crude oil and natural gas licences, 24 were the highest, according to Tommy Beaudreau, director of the Interior Department's Bureau of Ocean Energy Management. (link.reuters.com/xuj77v)

The Guardian

CHANCELLOR VOWS TO SCRAP COMPULSORY ANNUITIES IN PENSIONS OVERHAUL

Pensioners will soon be free to do what they like with their retirement savings after Britain's finance minister promised to scrap compulsory annuities in a bombshell for the pensions industry. The move almost immediately wiped 5 billion pounds ($8.31 billion) off the value of shares in the firms that provide annuities - and provoked fears of a fresh buy-to-let boom as pension pots are used to buy property as a retirement income. (link.reuters.com/dyj77v)

The Times

CHEERS, GEORGE: BUSINESS HAILS 'BIG-TICKET' BUDGET FOR GROWTH

Britain's leading industrialists hailed Finance Minister George Osborne's "Budget for the makers and the doers" as a huge stride towards making manufacturing competitive with Germany and other leading nations. (link.reuters.com/zuj77v)

HIGH-PERFORMANCE BENTLEY LEADS WAY IN BRITISH REVIVAL

Production lines in the British automotive industry were buzzing as Bentley Motors, BMW and Alexander Dennis, the coachbuilder, all revealed that they intended to step up output in the country's manufacturing heartland. (link.reuters.com/byj77v)

HITACHI TO MOVE TRAIN-BUILDING HQ TO BRITAIN

Hitachi, the Japanese electronics conglomerate, will announce on Thursday that it is moving the headquarters of its train manufacturing business to Britain in a sign of confidence in the country. (link.reuters.com/cuj77v)

The Independent

CO-OPERATIVE GROUP ANNOUNCES MANAGEMENT OVERHAUL

The Co-operative Group has announced a major management shake-up which will see Acting Chief Executive Richard Pennycook take up the role of chief operating officer once a new chief executive is found. (link.reuters.com/gyj77v)

($1 = 0.6014 British Pounds) (Compiled by Richa Naidu in Bangalore; Editing by Prateek Chatterjee)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.