PRESS DIGEST- British Business - Sept 5

Thu Sep 4, 2014 7:50pm EDT

Related Topics

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

PENNYCOOK TO LEAD CO-OP AFTER WINNING 'HEARTS AND MINDS'

The Co-operative Group has named Richard Pennycook, the interim boss who had previously counted himself out of the running for the top job, as new Chief Executive as it attempts to rebuild its reputation after a series of damaging financial crises. (thetim.es/1r9ULrO)

LET US COME HOME, SAY BRITISH JIHADISTS

Dozens of British jihadists have become so disillusioned with fighting in Syria that they have contacted the UK begging to come home. One jihadist, claiming to represent 30 Britons, approached an intermediary to complain of growing despondency among the men in his group. (thetim.es/1xhiW0p)

The Guardian

CBI FORECASTS SLOWING GROWTH FOR UK ECONOMY

Economic growth will slow in the second half of the year as the effect of improved confidence and better credit conditions starts to wear off, the CBI has predicted. (bit.ly/1prHIRl)

INVESTORS FIRE WARNING SHOT AT BETFAIR EXECUTIVE BONUSES

Nearly a third of shareholders in online betting exchange Betfair on Thursday voted against pay and bonus deals for Chief Executive Breon Corcoran. (bit.ly/1r9WygG)

The Telegraph

ROGUE TRADER JEROME KERVIEL TO LEAVE PRISON JUST 110 DAY INTO THREE-YEAR SENTENCE

Convicted rogue trader Jerome Kerviel has been told he can walk free from prison just 110 days into a three-year sentence. The former Societe Generale banker, who took the French lender to the brink of collapse with a series of risky bets, will be released from Fleury Merogis prison, just south of Paris, next week, an appeals court said yesterday. (bit.ly/Z93rZ9)

PHONES4U DEBTS UNDER REVIEW FOR DOWNGRADE AFTER SPLIT WITH VODAFONE

Phones4U suffered a new blow on Thursday as the ratings agency Moody's warned clients the mobile phone retailer was under review for a downgrade, a measure that could make more difficult for the heavily-indebted company to raise funds. (bit.ly/1AbW2Ud)

Sky News

NUCLEAR REACTORS MAY BE OFFLINE UNTIL 2015

Four nuclear reactors, which each provide 1 percent of Britain electricity, could be out of action until the end of the year due to safety fears. The announcement by EDF Energy, which owns the Heysham 1 and Hartlepool power stations, raised further concerns about the chances of blackouts during the winter following confirmation of actions to secure supplies by the National Grid. (bit.ly/1oIf6mz)

EUROZONE TEETERS AS ECB'S BAZOOKA IS HELD BACK

The European Central Bank's shock interest cut on Thursday, taking its benchmark policy rate from 0.15 percent to 0.05 percent, created drama on currency markets, sending the euro down against the US dollar by almost a full percentage point - a move seldom seen - to its lowest level for 14 months. (bit.ly/1r8QipB)

The Independent

CO-OP REVIVAL COULD TAKE FIVE YEARS, SAYS NEW CHIEF EXECUTIVE

Repairing the beleaguered Co-operative Group after two years of turmoil could take up to five years, the company's new head Richard Pennycook warned on Thursday. (ind.pn/1qg4WiC)

BRITISH OIL GIANT ACCUSED OF BRIBERY IN TUSSLE OVER AFRICA'S OLDEST NATIONAL PARK

Contractors and agents working on behalf of London-based oil company Soco International paid bribes to officials and rebels in the Democratic Republic of Congo in their bid to explore for oil in Africa's oldest national park, according to anti-corruption activists. (ind.pn/1tvlAgn) (Compiled by Ankush Sharma in Bangalore; Editing by Diane Craft)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.