March 31 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.
INSURERS URGE OSBORNE TO REBUKE HEAD OF REGULATOR
The Chancellor is under pressure to carpet Martin Wheatley,
the boss of the Financial Conduct Authority as it launches a
review today of 30 million insurance policies and their
INVESTOR GIANT WARNS BANKS ON PAY ARRANGEMENTS AHEAD OF EU
The Association of British Insurers is to issue an "amber
top" alert ahead of the annual meetings of Britain's biggest
banks warning its members to examine closely the new pay
arrangements put in place by the lenders.
WONGA CHAIRMAN TO STEP DOWN AS FCA PREPARES TO REIN IN
The multi-millionaire figurehead of the controversial payday
lending industry is to stand down from his job as chairman of
Wonga as a new City regulator prepares to impose tougher rules.
NETWORK RAIL FAILS TO MEET PUNCTUALITY TARGETS AND FACES A
RECORD 70 MLN STG FINE
Network Rail has admitted it has failed to meet
its punctuality targets, as it braces for a record fine of up to
70 million pounds.
ROYAL MAIL FACING BACKLASH OVER "LOST £1 BLN" FROM SELL-OFF
The National Audit Office will publish this week its
findings on last autumn's £3.3 billion sell-off by the
Government. Ministers, investment bankers and senior civil
servants are bracing themselves for government auditors' verdict
on the flotation of Royal Mail, which appears to have
lost taxpayers in excess of £1 billion.
FEARS RAISED OVER "DEAL" FOR HOUSE OF FRASER
A potential buyout of House of Fraser by a Chinese
conglomerate has raised concerns that shareholders are not
getting the best of a deal brokered by the company's chairman.
UNDER-FIRE FCA SEEKS BUDGET HIKE FROM CITY
The City regulator will set out plans for an
inflation-busting increase in its budget this week, just days
after sparking fury from insurers over the launch of a probe
into some industry practices.
RBS RAIDS SWISS GIANT FOR NEW FINANCE CHIEF
The taxpayer-backed Royal Bank of Scotland is close
to luring one of the architects of its 45.5 billion pounds
taxpayer bail-out to become its new finance chief. Ewen
Stevenson, who works for Credit Suisse, is in advanced
negotiations about joining RBS at a critical time for the bank.
(Compiled by Aashika Jain in Bangalore; Editing by Eric Walsh)