PRESS DIGEST- British Business - April 23

Tue Apr 22, 2014 7:34pm EDT

April 23 - 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

DRUGS STOCKS SOAR AS GLAXO BETS THE PHARMA ON NOVARTIS DEAL

A blizzard of deals in the pharmaceuticals industry sent drugs stocks flying as GlaxoSmithKline conducted a complex asset swap with Novartis, of Switzerland, and AstraZeneca shored up its defences against a possible American takeover.

JJB FRAUD TRIAL ABANDONED DUE TO SIR DAVID JONES' ILL HEALTH

The fraud trial of the former executive chairman of JJB Sports has been 'abandoned for the time being', owing to his ill health.

The Guardian

VINCE CABLE TELLS TOP UK FIRMS: CRACK DOWN ON BONUSES OR FACE NEW LAWS Business secretary urges companies to rethink pay deals to regain public trust and move focus off short-term success.

TESCO LAUNCHES FRESH ROUND OF PRICE CUTS Market leader to also offer free click-and-collect grocery orders as it inches toward Asda's "everyday low price" model.

The Telegraph

QUINDELL SHARES CRASH 50 PCT ON DAMNING GOTHAM NOTE Insurance outsourcer Quindell's shares plunge after Gotham Research calls it a "country club built on sand."

Sky News

BARCLAYS PAY PLANS RECEIVE MIXED CITY VERDICT

Barclays will this week suffer a sizeable City rebellion over its decision to hike bonuses last year while simultaneously receiving overwhelming shareholder backing for its future pay plans. (Compiled by Karen Rebelo in Bangalore; Editing by Lisa Shumaker)

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