PRESS DIGEST- British Business - May 22

Wed May 21, 2014 10:38pm EDT

May 22 (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.

The Telegraph

BP WILL TAKE GULF OF MEXICO ROW TO SUPREME COURT

(link.reuters.com/dej59v)

The British oil major said on Wednesday that it would ask the United States' highest court to revise a catch-all compensation deal it struck in 2012, which is being used to award payouts to people "with no apparent connection to the Deepwater Horizon spill".

HALFORDS ACCUSED OF SQUEEZING SUPPLIERS

(link.reuters.com/fej59v)

Letters seen by The Telegraph show Halfords Group asking suppliers to pay up to 10 percent of their annual sales with the retailer in what effectively amounts to a rebate on already agreed contractual payments.

The Guardian

ASTRAZENECA DIRECTORS UNMOVED BY SHAREHOLDER CALLS TO REOPEN PFIZER TALKS

(link.reuters.com/hej59v)

AstraZeneca's directors remained defiant on Wednesday night in the face of calls from one of the drugs company's biggest shareholders to reopen talks with its unwanted suitor, the U.S.-based Pfizer group.

TIMING OF MORTGAGE RATE RISE LOOKS LESS CERTAIN AFTER BANK OF ENGLAND MEETING

(link.reuters.com/jej59v)

The prospect of a rise in mortgage rates next spring looks more uncertain after Bank of England policymakers appeared to be split over when to end the UK's five years of cheap credit.

The Times

WE'RE WATCHING YOU, CARNEY TELLS INSURERS

(link.reuters.com/taj59v)

The governor of the Bank of England has warned insurers that he will hold their top executives to account in the same way that he has cracked down on Britain's errant bankers.

BANK'S UNITED FRONT OVER RATE RISE BEGINS TO CRACK

(link.reuters.com/kej59v)

All nine members of the Monetary Policy Committee voted in favour of keeping rates on hold this month, but the minutes of the meeting showed that, for some, the policy decision was becoming "more balanced".

Sky News

FAT FACE PULLS FLOAT AS CITY IPO FASHION FADES

(link.reuters.com/tuh59v)

Fashion retailer Fat Face (IPO-FFFL.L) is expected to abandon its planned flotation in a move that could mark a turning point in the City's frenzy of recent company listings.

BUYOUT GIANTS TEAM UP FOR SUB-PRIME LENDER

(link.reuters.com/xeh59v)

Two of the world's biggest private-equity groups Blackstone and TPG have joined forces to mount a takeover bid for Kensington, one of the UK's biggest specialist mortgage lenders. (Compiled by Aashika Jain in Bangalore)