PRESS DIGEST- British Business - July 21

July 21 Sun Jul 20, 2014 8:33pm EDT

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July 21 (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 Times

EUROPEAN UNION DRAWS CLOSER AS BSKYB EYES DEAL WITH FOX

(thetim.es/1p6vaSq)

BSkyB is pushing ahead with plans to create a European pay TV giant by buying Twenty-First Century Fox Inc's satellite broadcasting assets in Germany and Italy.

TIME LIMITS ON CITY SCANDALS GET DOUBLED

(thetim.es/1tobDy3)

Bankers and brokers accused of wrongdoing face investigations going back far longer as regulators are granted double the amount of time they previously had to look at allegations of market abuse and financial misbehaviour.

The Guardian

FORMER CO-OPERATIVE GROUP CHAIRMAN REJECTS PLANS FOR BOARDROOM REFORM

(bit.ly/1nXvjIM)

The Co-Operative Group Ltd Chairman Len Wardle, who resigned over the Paul Flowers scandal, has broken his silence to urge members of the supermarkets-to-funeral homes group to reject the plans for corporate governance reforms.

ROYAL MAIL READIES FOR BATTLE WITH SHAREHOLDERS

(bit.ly/Wxlh7a)

Royal Mail Plc will this week face a stormy shareholder protest when the company holds its first annual meeting since its controversial privatisation.

The Telegraph

SERIOUS FRAUD OFFICE SET TO LAUNCH CRIMINAL PROBE INTO FOREX RIGGING

(bit.ly/1qtiVDh)

The Serious Fraud Office is poised to launch the first criminal investigation into alleged rigging of the 3 trillion pound-a-day foreign exchange markets at leading City banks.

FRASPENS SETS COMPASS FOR LONDON FLOTATION

(bit.ly/UkMdVu)

Fraspens will on Monday announce its intention to float on Aim and is seeking to raise about 4 million pound, giving it a market value of approximately 40 million pound.

Sky News

NEWLY-LISTED TSB SAYS YES TO 1.4 BILLION STG UKAR BID

(bit.ly/1yGW3AH)

TSB Banking Group, the UK's seventh-biggest lender, is plotting an audacious takeover bid for a 1.5 billion pound taxpayer-owned mortgage portfolio just weeks after floating on the London Stock Exchange.

TOP CITY BANKER TO PAY 450,000 POUND FCA PENALTY

(bit.ly/1nFe1v5)

One of the City's top financiers Ian Hannam, a banker who became known as the "king of mining M&A" after engineering some of the world's biggest natural resources mergers, is to accept the watchdog's original verdict after losing an appeal in May. (Compiled by Aashika Jain in Bangalore; Editing by Lisa Shumaker)

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