PRESS DIGEST- British Business - June 3

June 3 Mon Jun 2, 2014 8:46pm EDT

June 3 (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

GEORGE OSBORNE POISED TO REGULATE FX MARKET

The British government is planning to unveil new rules to regulate the 3 trillion-pounds-a-day ($5.03 trillion) foreign exchange market following allegations of manipulation and abuse. (link.reuters.com/zur79v)

GEORGE OSBORNE TOLD TO REIN IN HELP TO BUY BY EUROPEAN COMMISSION

George Osborne's flagship Help to Buy scheme must be reined in and council tax should be increased to stop house prices getting out of control, the European Commission has said. (link.reuters.com/tur79v)

TRANSPORT FOR LONDON SEEKS LEGAL RULING ON UBER CAR-HIRE SOFTWARE

Transport for London has begun to apply for a high court ruling on whether Uber, the car-booking software, illegally encroaches on black-cab drivers' exclusive right to charge metered fares. (link.reuters.com/xur79v)

The Guardian

SCOTTISH INDEPENDENCE: CAMERON BACKS GIVING HOLYROOD INCOME TAX POWER

UK Prime Minister David Cameron has backed plans for Scotland to set its own income tax rates, including the freedom for the first time to cut taxes below the level of the rest of the country. (link.reuters.com/rur79v)

GLAXOSMITHKLINE REACHES DEAL WITH UK FIRM DEVELOPING CANCER TREATMENTS

GlaxoSmithKline has struck a multimillion-dollar deal with a British biotech firm to develop cutting-edge cancer treatments, after a new flurry of activity in the pharmaceutical sector. (link.reuters.com/byr79v)

The Times

CAMERON HINTS ENGLAND MAY BID FOR QATAR'S WORLD CUP

England could bid to host the 2022 World Cup, David Cameron hinted Monday, after pressure intensified on Fifa to strip Qatar of the tournament. (link.reuters.com/sur79v)

EX-AVIVA BOSS ANDREW MOSS RETURNS TO CITY AS RISK ADVISER

Andrew Moss has picked up his first job in the City since he was ousted from Aviva two years ago, resurfacing as the lead adviser at a privately owned management consultancy. (link.reuters.com/wur79v)

IMPERIAL INNOVATIONS SEEKS 150 MLN STG TO FORTIFY ITS PORTFOLIO

Imperial Innovations, a spin-off from Imperial College London that takes companies created by academics and nurtures them for stock market flotation or trade sale, is raising up to 150 million pounds for further investment. (link.reuters.com/vur79v)

The Independent

BANKS SHOULD BE ALLOWED TO REVIVE SECURITISATION RESPONSIBLY, CLAIMS DEPUTY BANK OF ENGLAND GOVERNOR

The "exploited and abused" practice of banks parcelling up debts to sell on to investors in the build-up to the financial crisis needs to be revived, in a more transparent form, deputy Bank of England governor Jon Cunliffe said on Monday. (link.reuters.com/cyr79v) ($1 = 0.5968 British pound) (Reporting by Richa Naidu in Bangalore; Editing by Eric Walsh)

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