PRESS DIGEST- British Business - June 11

June 11 Tue Jun 10, 2014 8:21pm EDT

June 11 (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

EU SAYS ICAP MAY HAVE BEEN INVOLVED IN LIBOR CARTEL

ICAP, the interdealer broker founded by the former Conservative party Treasurer Michael Spencer, may face further fines related to the Libor scandal after Brussels regulators said it could be accused of cartel behaviour. (link.reuters.com/kak99v)

AIG NAMES UK-BORN PETER HANCOCK AS NEW CEO

AIG, the U.S. insurance giant bailed out by the government at the height of the economic crisis, has named London-born Peter Hancock as its new chief executive. (link.reuters.com/dak99v)

LONMIN COULD NEED TO RAISE CAPITAL TO SURVIVE

Platinum producer Lonmin may soon need to raise capital to survive South Africa's longest and costliest mining strike, which has paralysed its operations and slashed its revenue. (link.reuters.com/vyj99v)

WPP'S KANTAR BUYS PRECISE MEDIA GROUP IN 70 MLN STG DEAL

Martin Sorrell's WPP has acquired Precise Media Group in a deal that values the London-based media monitoring business at around 70 million pounds ($117.54 million). (link.reuters.com/ruj99v)

The Guardian

BP ALLOWED COMMERCIAL DRONES BY U.S. REGULATORS IN UNPRECEDENTED DECISION

The U.S. Federal Aviation Administration said Tuesday it has granted the first permission for commercial drone flights over U.S. land to BP, the latest effort by the agency to show it is loosening restrictions on commercial uses of the unmanned aircraft. (link.reuters.com/cuj99v)

IMPERIAL TOBACCO COULD NET 720 MLN STG FROM FLOAT OF EUROPEAN LOGISTICS DIVISION

Imperial Tobacco has unveiled plans to float its European logistics division on the Spanish stock market in a move that could value the business at nearly 2 billion pounds. (link.reuters.com/cyj99v)

TESCO FACES POTENTIAL FINES AFTER FAILING TO COMPLY WITH 2010 COMPETITION ORDER

Tesco is "urgently investigating" its property division - and faces potential fines - after a Guardian analysis revealed the supermarket chain has been failing to comply with a Competition Commission order for the past four years. (link.reuters.com/nej99v)

OIL RIG BUILDER LAMPRELL SEES SHAREHOLDERS REVOLT OVER PAY AGAIN

Lamprell has suffered a big pay revolt at its annual general meeting - the third year in a row that shareholders have rebelled against pay deals at the oil rig builder. (link.reuters.com/pej99v)

The Times

ENERGY BILLS MUST BE CUT, OFGEM WARNS SUPPLIERS

Britain's energy regulator has fired an extraordinary broadside at the Big Six power companies after warning them that their failure to cut household bills, despite a slump in wholesale costs, was proof that the market is uncompetitive. (link.reuters.com/hak99v)

NEXT BOSS QUITS TO PUT ABERCROMBIE BACK INTO SHAPE

The man behind Next's fashion range is to swap British clothing for raunchy American college attire by taking a top job attempting to revive the fortunes of Abercrombie & Fitch . (link.reuters.com/tyj99v)

The Independent

BANK OF ENGLAND GOES ON ATTACK AGAINST CYBER CRIME

The Bank of England is set to unleash an army of intelligence experts and licensed hackers to probe the defences of Britain's biggest banks as its steps up efforts to combat cyber crime. (link.reuters.com/jak99v) ($1 = 0.5956 British pounds) (Compiled by Richa Naidu in Bangalore; Editing by Eric Walsh)