PRESS DIGEST- British Business - June 12

June 12 Wed Jun 11, 2014 8:28pm EDT

June 12 (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

CHINA CONSTRUCTION BANK TO BE FIRST UK CLEARING BANK FOR RENMINBI

China Construction Bank, China's second-largest lender, has been selected to become the first clearing service for renminbi trading in London, according to reports. (link.reuters.com/vyp99v)

UBER WINS OUT AFTER BLACK CABS GRIDLOCK LONDON

Protests by black cab drivers against a mobile phone application that allows users to book minicabs has resulted in a increase in the number of people using the service. (link.reuters.com/wyp99v)

The Guardian

ROLLS-ROYCE LOSES 2.6 BLN STG ENGINE ORDER AFTER EMIRATES CANCELS AIRBUS PURCHASE

Rolls-Royce has lost jet engine orders worth 2.6 billion pounds ($4.37 billion) after Emirates Airline cancelled a planned purchase of 70 A350 aircraft from Airbus . (link.reuters.com/xyp99v)

SAINSBURY'S SALES FALL AGAIN AMID SLUGGISH RETAIL ENVIRONMENT

Outgoing Sainsbury's boss Justin King revealed a second quarter of falling sales but insisted he is "not leaving on a low" because the grocer is still outperforming its rivals.(link.reuters.com/zyp99v)

The Times

OSBORNE TO REVEAL CITY ABUSES RULES

New rules to deter wrongdoing and punish cheating in the heart of the City of London will be set out by British Finance Minister George Osborne in his Mansion House speech on Thursday. (link.reuters.com/ryp99v)

CAR INSURERS TO FEEL WRATH OF WATCHDOG

Britain's leading competition watchdog will press ahead today with a crackdown on motor insurers as part of a drive to give motorists a fairer deal. (link.reuters.com/syp99v)

B&M LISTING MAY SETTLE THE VOLATILE MARKET FOR IPOS

A bargain variety retailer that is aggressively expanding across Britain is expected to price its stock market flotation today in a listing that could value the group at 2.7 billion pounds ($4.53 billion). (link.reuters.com/typ99v)

The Independent

EMPLOYMENT FIGURES INCREASE BY RECORD-BREAKING 350,000 IN THREE MONTHS, BUT EARNINGS ARE DOWN

The number of people in work has leapt by a record 350,000 in the three months to April, but wages have slumped below inflation which has sparked concerns over levels of pay. (link.reuters.com/baq99v) ($1 = 0.5956 British pounds) (Compiled by Richa Naidu in Bangalore; Editing by Eric Walsh)

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