March 11 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.
REGULATOR TO FORCE SHAKE-UP OF PROFITABLE INSURANCE ADD-ON
The Financial Conduct Authority is to force a major shake-up
of the 4 billion pound insurance add-on market, creating greater
competition in what it perceives to be a "closed shop" sector.
GATWICK OFFERS COMPENSATION TO HOUSEHOLDS AFFECTED BY SECOND
Gatwick has raised the stakes in the battle for
airport expansion in the Greater London area by offering
compensation to households likely to be most affected if the
go-ahead is given for a second runway.
MORE CO-OP EXECUTIVES MAY GET PAY TOP-UPS WHEN COMMITTEE
The board committee that sets pay at the troubled
Co-operative Group is expected to meet this week to
discuss extending controversial retention payments to more
members of the newly assembled top management team.
BANKING BONUSES WORLDWIDE UP 29 PERCENT AS CITY OF LONDON
FARES EVEN BETTER
The average bankers' bonus globally was 29 percent higher
than a year ago, with those in the City of London higher than in
other parts of the world, according to a survey by a leading
NATION'S NUMBER CRUNCHERS RED-FACED AGAIN
The Office for National Statistics was red-faced when it
published a notice urging users of its data to treat its latest
estimate for workers on zero-hour contracts with "due caution",
pending the forthcoming publication of more reliable figures.
HELP TO BUY LIKELY TO BE CLOSED EARLY, LENDERS WARN
Three quarters of lenders believe that the 12 billion pound
scheme, which can be used to buy first homes worth up to 600,000
pounds, will be withdrawn early or scaled down, according to the
Intermediary Mortgage Lenders Association. It is due to last
TRAVELEX SET FOR 1 BLN STG STOCK MARKET LISTING IN LONDON
Foreign currency specialist Travelex on Monday
became the latest High Street giant to reveal it is considering
a stock market flotation. The company, which provides cash and
pre-paid cards to more than 37 million customers each year,
ended months of speculation about its future plans by announcing
it is looking at a 1 billion pound London listing.
Fidelity Criticises Pay 'Mess' At Barclays
Fund management giant Fidelity International has
become the first big City institution to publicly criticise
Barclays over its 2.4 billion pound bonus pot,
intensifying the pressure on the bank ahead of a
potentially-fiery annual meeting next month.