October 22, 2013 / 1:42 AM / 4 years ago

PRESS DIGEST- British Business - Oct 22

3 Min Read

Oct 22 (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 Telegraph

City Workers Face Investigation Over Libor 'Fixing'

22 City workers face being investigated in relation to the alleged conspiracy to fix the Libor interest rate. Southwark Crown Court heard that the Serious Fraud Office has written to the individuals to tell them they may be investigated and could face criminal charges. ()

Rbs Shares Tumble on Break-Up Plans

Royal Bank of Scotland shares tumbled more than 5 percent on news that Britain's Chancellor of the Exchequer plans to break the state-backed lender into a "good bank" and a "bad bank" within weeks, and on fears of costly fines by the U.S. authorities. ()

Co-Op Could Bank Future Payday from 30 Pct Stake

Forced into a corner by no-nonsense vulture funds, the Co-op has lost control of its lender. Once the crippled Co-op Bank is rescued, a group of seven hedge funds will own more than the 30 percent stake held by the country's favourite mutual. ()

Heathrow: We Are Not 'Ripping Off' Airlines and Passengers

Heathrow has insisted it is "not trying to rip anybody off" as it announced a near 11 percent increase in revenue in the wake of a controversy over its landing charges. ()

The Guardian


David Cameron has hailed the UK government agreement with French-owned EDF to build the first new British nuclear power station in 20 years, saying it was a very big day for Britain and would kick-start a new generation of nuclear power in the UK. ()

Merlin Entertainments to Float on London Stock Exchange

Merlin Entertainments is planning to float on the London Stock Exchange in a move that could value it at about 3 billion pounds. The private-equity backed owner of Alton Towers and Madame Tussauds said it would offer at least 20 percent of the company to institutional and private investors, using 200 million pounds. ()


The storm over rising energy prices intensified on Monday when Npower became the third major supplier to announce inflation-busting rises and told customers to use less energy if they wanted lower bills. ()

The Times

Buffett Blow to Tesco as He Cuts Stake

Warren Buffett has reduced his interest in Tesco by 300 million pounds ($484.75 million). Berkshire Hathaway , the American billionaire investor's vehicle, has reduced its holding from 4.98 percent to 3.98 percent, stock market filings show. ()

The Independent

Lloyds to Lose 57 Mln Stg After Tenon Collapse

Lloyds Banking Group looks set to lose out on 57 million pounds following the collapse of the accountancy firm RSM Tenon in August. ()

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