UK Stocks-Factors to watch on Wednesday, May 28
EDINBURGH May 28 (Reuters) - Britain's FTSE 100 index is seen opening flat, according to financial bookmakers. For more on the factors affecting European stocks, please click on
* The blue-chip FTSE 100 index closed up 29.19 points, or 0.4 percent, at 6,844.94 points on Tuesday, lifted by gains in chip designer ARM and InterContinental Hotels Group, which pushed the market back to within reach of its record high.
* GLAXOSMITHKLINE - Britain's fraud office has launched a formal criminal investigation into GlaxoSmithKline, posing a new challenge to the drugmaker, which already faces claims of bribery in China and four other countries.
* ROYAL BANK OF SCOTLAND - Royal Bank of Scotland has become the latest overseas bank to shrink its business in the United States after announcing it would cut its mortgage trading business by two-thirds, the Financial Times reported on Tuesday.
* WM MORRISON - Faced with falling profits, grocer WM Morrison is asking suppliers to cover the cost of ensuring products meet regulations in the latest of a series of payment demands, the Guardian reported.
* RIO TINTO - The global miner plans to cut about 300 jobs from its troubled project in Mongolia, the Times reported, further testing its turbulent relationship with the government.
* UK CORPORATE DIARY:
BREWIN DOLPHIN HOLDINGS PLC H1
CALEDONIA INVESTMENTS PLC PRELIM
DE LA RUE PLC PRELIM
FIDESSA GROUP PLC TRADING
IOMART GROUP PLC PRELIM
SCAPA GROUP PLC PRELIM
TELFORD HOMES PLC PRELIM
TODAY'S UK PAPERS
> Financial Times
> Other business headlines Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit topnews.session.rservices.com * BridgeStation: view story .134 For more information on Top News visit topnews.reuters.com (Reporting by Alistair Smout, editing by Atul Prakash)
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