PRESS DIGEST- British Business - July 17
July 17 (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.
ASHLEY PULLS OUT OF 200 MLN STG SHARE PLAN
The billionaire founder of Britain's biggest sportswear chain, Sports Direct, has withdrawn from a controversial bonus scheme just weeks after forcing through the award. (thetim.es/1l5BCVM)
SHAREHOLDER BACKLASH FORCES ICAP TO REVIEW BONUSES
Interdealer broker ICAP is to go into talks with shareholders over its executive bonus scheme after a third of investors voted against its pay policy at the annual meeting. (thetim.es/1kxiArm)
FRENCH ACCUSE ROYAL MAIL OF BREACHING ANTITRUST LAW
Royal Mail has been caught up in a competition investigation after French regulators accused one of its subsidiaries of breaching antitrust laws. (thetim.es/Ud5EQm)
CONFUSED.COM ABOUT CAR INSURANCE? SO IS THE CITY REGULATOR
Britain's biggest price comparison websites are being ordered to address insurance listings that mislead or confuse their users.
The websites sometimes failed to provide the right information to users buying motor and household insurance, the Financial Conduct Authority said in a report. (thetim.es/1jQFfEn)
REGULATOR'S REPORT ON BANKS PROMPTS SPECULATION ABOUT COMPETITION INQUIRY
Britain's new competition watchdog will release the outcome of an initial study into the banking sector on Friday, prompting speculation about a full-blown investigation into the industry. (bit.ly/1tTfrvl)
RUPERT MURDOCH'S LEGACY CAN ONLY BE SECURED WITH TOTAL MEDIA CONTROL
With his jaw-dropping $80 billion approach to buy U.S. media giant Time Warner Inc, Rupert Murdoch has made his intentions crystal-clear: he wants to become the undisputed global "king of content", and is willing to pay a fortune at the top of the market to get his way.
The deal was rebuffed, of course, but Murdoch, who has bounced back from the UK phone-hacking scandal and the split of his corporate empire with remarkable ease, will be back. (bit.ly/1mW1Tty)
THE LETTER SENT TO LLOYDS CUSTOMERS UNDER A LAW FIRM'S NAME
Lloyds Banking Group has sent Chairman of the Treasury Select Committee Andrew Tyrie an example of the letters it sent customers who owed the bank money under the name of a defunct law firm. (bit.ly/1r52kDH)
FIRSTGROUP VOWS 'DEEP REVIEW' OF PAY AFTER INVESTOR REVOLT
FirstGroup Chairman John McFarlane yesterday pledged a "deep review" of the company's executive pay policies in the wake of criticism of the near 2 million pound ($3.43 million)package received by Chief Executive Tim O'Toole last year. (bit.ly/1rscptL)
INVESTORS REVOLT AGAINST GULF KEYSTONE BOSS
Some investors in Gulf Keystone Petroleum, the London-listed oil explorer, have lodged votes opposing the re-election of founder Todd Kozel as an executive director. (bit.ly/UabXEc)
POUND SOARS AS INFLATION LEAPS AND FED CHIEF JANET YELLEN TALKS DOWN U.S. ECONOMY
The pound surged to new six-year highs against the dollar last night as an inflation shock fuelled expectations of UK interest rate rises while a dovish Federal Reserve Chair Janet Yellen warned over "false dawns" for the U.S. economy. (ind.pn/1paXMbL) ($1 = 0.5835 British pounds) (Compiled by Richa Naidu; Editing by Lisa Shumaker)