PRESS DIGEST- British Business - June 20
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.
LLOYDS SELLS LARGER CHUNK OF TSB
Lloyds Banking Group will sell a significantly bigger percentage of TSB than it had intended, after strong demand for shares in the challenger bank.
STERLING RISE COULD THREATEN EXPORTS, SAYS CBI
Demand for UK manufacturing strengthened in June, amid concerns that the strengthening of sterling could put exports in jeopardy.
BE READY FOR INTEREST RATE RISES, BANK OF ENGLAND INSIDER WARNS MORTGAGE PAYERS
Britain's 10 million mortgage payers have been warned to ready themselves for dearer borrowing costs after a Bank of England policymaker said stronger-than-expected growth meant the era of ultra-cheap money was drawing to a close.
WEST COAST MAINLINE: VIRGIN TRAINS AND STAGECOACH ARE EXPECTED TO TRIPLE PROFITS
Sir Richard Branson's cumulative dividends from Virgin Trains are set to pass 300 million pounds after the government gave the firm a revised deal to run the west coast main line until 2017, with a probable one-year extension.
STRONG POUND THREAT TO EXPORTERS' HOPES
A recovery in manufacturing on the back of rising exports could be in jeopardy after the pound broke the key $1.70 barrier for the first time in almost six years.
GOVERNMENT RAKES IN 1 BLN STG FROM HOUSING BOOM
Soaring house prices have earned the government nearly 1 billion pounds in extra stamp duty payments every year, research suggests.
AMERICAN APPAREL FIRES FOUNDER DOV CHARNEY AFTER 'MISCONDUCT' INQUIRY
Board votes unanimously to remove founder Dov Charney and says company is 'larger than any one individual'
ROLLS-ROYCE ACTS TO APPEASE INVESTORS WITH 1 BLN STG BUYBACK
Rolls-Royce, the troubled aero-engine manufacturer, has moved to win back the support of investors with a 1 billion sweetener as it shelved plans for major acquisitions.
(Compiled by Tasim Zahid in Bangalore; Editing by Lisa Shumaker)