PRESS DIGEST- British Business - July 29

Mon Jul 28, 2014 8:13pm EDT

July 29 - 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

MYSTERY ABERDEEN CLIENT PULLS OUT 4.2 BLN STG

Fears of a renewed emerging markets sell-off by investors have been fuelled after it was revealed that an anonymous client withdrew 4.2 billion pounds ($7.13 billion) from Aberdeen Asset Management, Europe's largest fund manager. (thetim.es/1qHXzCd)

ASTRA ENLISTS RIVALS IN PLAN TO DEVELOP CANCER TESTS

AstraZeneca has signed up Swiss and Dutch rivals to create blood tests to help identify patients that will benefit from its lung cancer drugs. (thetim.es/1rZi4HS)

SKY'S THE LIMIT AS GHERKIN SALE LOOMS

Agents have been appointed to sell the "Gherkin" skyscraper in what will be one of the most closely watched property sales in the Square Mile for years. (thetim.es/1mWvv60)

The Guardian

LLOYDS SUSPENDS SEVEN PEOPLE AFTER 226 MLN STG BILL FOR RIGGING INTEREST RATES

Lloyds Banking Group have suspended seven employees after it was hit with a 226 million pound bill from regulators on both sides of the Atlantic for rigging crucial interest rates. (bit.ly/1uAusSY)

RECKITT BENCKISER SET TO FLOAT U.S. ARM RB PHARMACEUTICALS

Reckitt Benckiser, the consumer goods giant that makes Nurofen and Dettol, plans to spin off its U.S.-based pharmaceutical business. (bit.ly/1o7UnIi)

The Telegraph

SHOULD BANKERS HAVE TO SWEAR AN OATH? SIR RICHARD LAMBERT SEEMS TO THINK SO

The head of the review into standards in the British banking industry is this week expected to reignite the question of whether an oath for bankers is needed despite rejecting the idea when producing his original report. (bit.ly/X6BnVc)

VIRGIN AMERICA FILES FOR U.S. IPO

Billionaire entrepreneur Richard Branson could be in line for a $220 million windfall, after a bold gamble to launch Virgin America, his low-cost U.S. airline, in the teeth of the biggest crisis the industry had ever seen. (bit.ly/1ArCXAp)

Sky News

EX-TESCO CHIEF TO CHAIR STRUGGLING MORRISONS

Andrew Higginson, a former finance director of Tesco , is to become the next chairman of Wm Morrison, the UK's fourth-biggest grocer, as it combats falling sales amid competition from lower-priced rivals. (bit.ly/X559tx)

($1 = 0.5889 British pounds) (Compiled by Richa Naidu; Editing by Eric Walsh)

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