PRESS DIGEST- British Business - April 14

Sun Apr 13, 2014 7:53pm 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 Times

GLENCORE SELLS $6 BLN MINE TO MAKE PEACE

Glencore Xstrata is to sell its Las Bambas copper mine to a consortium of Chinese state-controlled resources companies for more than $6.25 billion

CO-OP BANK LOOKS AT DITCHING KPMG AS AUDITOR AS IT RUSHES TO RAISE 400 MLN STG

KPMG, the Co-op Bank's auditor for more than 40 years, is facing dismissal after the embattled bank revealed on Friday that it was putting its audit contract out to tender.

The Guardian

CO-OP RISKS TIGHTER CONTROL BY BANKS WITHOUT REFORM, WARNS LORD MYNERS

Myners, who was brought in to reform the crisis-stricken Co-operative Group, fears his plan will be rejected unless the owners of the loss-making chain of supermarkets, pharmacies and funeral homes understand the serious need for a radical overhaul of the way it is run.

HOUSE OF FRASER SELLS 89 PCT STAKE TO CHINESE CONGLOMERATE SANPOWER

Department store sells majority stake in 480 million pound deal touted as largest overseas retail acquisition by Chinese business.

TESCO CHIEF UNDER PRESSURE AS RETAILER EXPECTED TO ANNOUNCE 9 PCT FALL IN PROFITS

Philip Clarke sees supermarket's share price drop to 10-year low despite 1 billion pound expenditure on store refurbishments and staff.

The Telegraph

WAGE RISES TO OUTSTRIP INFLATION AS STRAIN EASES

Pay increases are set to outstrip inflation for the first time in six years as the economy gathers pace and unemployment continues to fall, according to forecasters.

PUNCH TAVERNS BRINGS IN INDEPENDENT RESTRUCTURING SPECIALIST

Punch Taverns, Britain's second biggest pubs group, has brought in an independent corporate restructuring expert to aid long-running discussions over its 2.3 billion pound debt mountain.

(Reporting by Karen Rebelo in Bangalore)

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