PRESS DIGEST- British Business - March 25
March 25 (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.
RBS 'IN TALKS' TO SELL CITIZENS TO JAPANESE BANK
One of Japan's largest banks has approached Royal Bank of Scotland to buy its U.S. retail business ahead of its stock market flotation this year. (link.reuters.com/kyj87v)
ENERGY COMPETITION PROBE 'WILL INCREASE RISK OF BLACKOUTS'
The risk of blackouts will be increased by a two-year probe into the energy market that will deter companies from building new power plants, a leading analyst has warned. (link.reuters.com/gyj87v)
MONITISE TO RAISE 110 MLN STG IN SHARE PLACING
Monitise, the online payments provider, announced plans to raise more than 110 million pounds ($181.4 million) on London's junior AIM market to fund a shift to subscription-based services that is expected to slow its growth. (link.reuters.com/myj87v)
GATWICK MISSES OUT ON DIRECT ROUTE TO JAKARTA
An Indonesian airline which was due to launch a direct service from Gatwick to Jakarta in May will now operate the service via Amsterdam to pick up passengers, it has emerged. (link.reuters.com/hyj87v)
LLOYDS' TOP MANAGEMENT BONUSES POTENTIALLY WORTH MORE THAN 27 MLN STG
Bailed out Lloyds Banking Group has handed its top management team - including Chief Executive Antonio Horta-Osorio - bonuses potentially worth more than 27 million pounds. (link.reuters.com/naj87v)
ASDA TO AXE AROUND 200 JOBS
Asda is to cut around 200 jobs as it forges a new five-year plan to tackle increasing competition from rival supermarkets and discounters. (link.reuters.com/baj87v)
CO-OP'S STAKE IN BANK SLIPS AFTER 400 MILLION POUND CALL
The Co-operative Group's grip on its troubled banking division appeared to weaken further last night after a stack of mis-selling costs forced the lender into a surprise 400 million pound emergency cash call. (link.reuters.com/dyj87v)
SCOTLAND 'WOULD FACE HIGHER TAXES OR IMMIGRATION TO FUND PENSIONS'
An independent Scotland would have to raise taxes or attract hundreds of thousands of immigrants to pay the state pension currently offered within the UK, a new study has found. (link.reuters.com/wuj87v)
PHONES4U TRIES TO GATECRASH CARPHONE MERGER WITH DIXONS
Merger talks between Dixons Retail and Carphone Warehouse have hit a potential hurdle after the owners of Phones4u approached the retailer about an alternative deal. (link.reuters.com/cyj87v)
LLOYDS ACCUSED OF USING LOOPHOLE TO CUT PPI BILL
A fresh payment protection insurance scandal is set to engulf Lloyds Banking Group amid accusations that it used a loophole to cut compensation awards to customers. (link.reuters.com/xuj87v)
ALL THAT GLISTERS COULD NOW TURN TO DUST FOR ALBEMARLE
Troubled pawnbroker Albemarle & Bond, which has been seeking a buyer for the business for months while its lenders kept the company afloat, is set to collapse after its banks called time on the turnaround of the business. (link.reuters.com/byj87v)
FURY AS FCA IS ACCUSED OF WIMPING OUT OF TOUGH NEW REGULATIONS ON PAYDAY LOANS
Members of Parliament and consumer groups have criticised the London's financial watchdog, the Financial Conduct Authority, for lacking teeth ahead of its taking over responsibility for payday lenders next month. (link.reuters.com/nyj87v)
($1 = 0.6065 British Pounds) (Compiled by Richa Naidu in Bangalore)
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.