July 22 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.
RBS PAYS 900,000 POUNDS FINE FOR AUSTRALIAN RATE-RIGGING
Australian regulators have fined Royal Bank of Scotland
nearly 900,000 pounds after the bank admitted its role in
attempts to manipulate the country's equivalent of the Libor
benchmark borrowing rate.
BANK OF ENGLAND'S COURT OPENS DOOR TO WOMEN CHIEFS
The female chief executives of the telecoms company TalkTalk
and the Yorkshire-based power plant Drax are
among the new appointees to the board of the Bank of England,
which was heavily criticised for having insufficient women in
HEDGE FUNDS USED 'DUBIOUS' MEANS TO BYPASS TAX RULES,
More than a dozen hedge funds, with assistance of Barclays
and Deutsche Bank, used "dubious" financial
products to claim billions in unjustified tax savings and
circumvent rules meant to limit risky bets, a Senate
subcommittee investigation has found.
COMPETITION REGULATOR MUST FORCE BANKS TO IMPROVE SERVICE,
MPs have called on the competition watchdog to force high
street banks to improve standards and the way they treat their
customers after the Competition and Markets Authority signalled
it would investigate the industry.
ESPIRITO SANTO CRISIS COULD AFFECT PORTUGAL'S ECONOMY, WARNS
PRESIDENT ANIBAL CAVACO SILVA
The president of Portugal has warned that the financial
crisis gripping the Espirito Santo family could affect
the country's economy.
JUNCKER FACES POLITICAL TEST AS FINES LOOM ON ILLEGAL GERMAN
Germany's current account surplus is the largest ever
recorded in proportional terms and far above the threshold for
EU sanctions, posing a major political test for the incoming
commission of Jean-Claude Juncker.
GLENFIDDICH EYES 100 MLN STG DRAMBUIE SCOTCH MERGER
The family-owned business behind Glenfiddich and Grant's is
examining a 100 million pound takeover of Drambuie, the liqueur
reputed to be made from a recipe concocted by Bonnie Prince
BBA IN TALKS ABOUT PAYMENTS COUNCIL MERGER
The banking industry's main lobbying group, British Bankers'
Association, is considering proposals to merge with at least two
of its peers amid pressure from leading members to reduce costs
levied by trade organisations.
(Compiled by Aashika Jain in Bangalore; editing by Andrew Hay)