PRESS DIGEST- British Business - March 24
March 24 (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.
SAINSBURY'S WINS SECOND BITE AT TESCO 'PRICE PROMISE'
J Sainsbury's has won the right to a judicial review in its legal battle against Tesco's "misleading" Price Promise campaign after failing to convince regulators that it should be banned. (link.reuters.com/gub87v)
MENTAL HEALTH-CARE GROUP CAMBIAN PLANS 500 MLN STG IPO
Cambian, Britain's biggest mental health services provider, is joining the flotation flurry after unveiling plans to list half of the business on the London Stock Exchange. (link.reuters.com/fub87v)
SUNRISE RADIO TAKEOVER BEING LED BY TORY DONOR FACING 14 MLN STG FRAUD TRIAL
The takeover of London's biggest commercial Asian radio stations is being led by a former business associate of Conservative grandee Cecil Parkinson who is awaiting trial for fraud at the Old Bailey. (link.reuters.com/neb87v)
'SCOTS TO PAY PREMIUM FOR KILT-EDGED BORROWING'
BlackRock, the world's largest fund manager, has warned that an independent Scotland would have to pay more to borrow when issuing "kilt-edged securities", because of the country's reliance on volatile oil revenues and an oversized banking sector. (link.reuters.com/bub87v)
ASDA MANAGERS FACE AXE AS GROCERS' PRICE WAR ESCALATES
Asda is preparing to announce what are said to be "scores" of redundancies among senior managers in its central and head office functions. The grocer is expected to brief senior managers on Monday on who will be let go. (link.reuters.com/seb87v)
PHOENIX IS PRESSING IGNITION ON SALE PLAN
Phoenix Group has entered exclusive talks with Standard Life over a potential 400 million pound ($659.8 million) sale of its Ignis Asset Management division. (link.reuters.com/veb87v)
RSA PREPARES FOR EASTER FUNDRAISING
RSA will this week pull the trigger on its emergency cash call to shareholders as Britain's biggest commercial insurer sets out the terms of its bumper 775 million pound rights issue. (link.reuters.com/web87v)
INTEROUTE TO RAISE 200 MLN EUROS AS IT TARGETS CLOUD CONTROL
London-based telecommunications company Interoute intends to raise up to 200 million euros ($275.7 million) to fund expansion as it plots a listing within the next two years. (link.reuters.com/xeb87v)
THAMES WATER SEEKS INTERNATIONAL BACKERS FOR LONDON'S SUPER-SEWER
Thames Water has started the hunt for international investors to fund the construction of its controversial 4 billion pound super-sewer across London. (link.reuters.com/geb87v)
RECORD NUMBER OF WOMEN TAKE SEATS IN THE BOARDROOM
The equality campaigner Lord Davies will this week step up the pressure on companies to put more women into executive committee roles, as he reveals that females hold a record number of seats in the boardrooms of Britain's biggest companies - but men still dominate the top jobs. (link.reuters.com/feb87v)
BIG LEAP IN BRITISH FOOD EXPORTS TO CHINA
A taste for Scottish salmon and British pork by China's emerging middle classes drove UK food and drink exports 5 percent higher last year to 12.8 billion pounds, the Food & Drink Federation said. (link.reuters.com/heb87v) ($1 = 0.7256 Euros) ($1 = 0.6063 British Pounds) (Compiled by Richa Naidu in Bangalore)