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PRESS DIGEST- British Business - March 7
March 7, 2014 / 2:25 AM / 4 years ago

PRESS DIGEST- British Business - March 7

March 7 (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

UKRAINIAN TENSIONS COULD HAVE SERIOUS IMPLICATIONS FOR EUROPE - DRAGHI

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Tensions in Ukraine could pose a “very serious” threat to the rest of Europe, Mario Draghi has warned. The president of the European Central Bank (ECB) said the impact of the Ukrainian crisis on the energy market, while minimal in the short term, could escalate.

UK HOUSE PRICE GROWTH ‘APPROACHING MADNESS’

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The speed UK property prices are rising at is “approaching madness”, analysts have warned, after data showed house prices jumped 2.4 percent in February, the biggest monthly increase in five years.

The Guardian

LOSS-MAKING RBS TO GIVE MILLIONS IN SHARES TO EXECUTIVES

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Royal Bank of Scotland is poised to release millions of pounds worth of shares to its top executive team through bonus schemes put in place by the loss-making bank over the last three years.

LLOYDS BANKING GROUP TO PAY EXTRA 1BN POUND TO BUY BACK BONDS

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The bailed-out Lloyds Banking Group is to take an unexpected 1 billion pound accounting charge as the result of a complex scheme to buy back financial instruments it issued during the banking crisis.

The Times

BNP TRADER SUSPENDED AS FOREX SCANDAL ESCALATES

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A senior currency trader who served on the Bank of England’s foreign exchange committee has been suspended by his bank BNP Paribas, dealing a further blow to London’s position as the world’s leading centre for forex trading.

BP CHIEF GIVEN HUGE PAY RISE AS REWARD FOR PLAYING IT SAFE

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BP more than tripled its chief executive’s pay to $8.7 million last year after it hit new performance targets put in place after the Gulf of Mexico disaster in 2010.

Sky News

CURTAIN TO FALL ON BARCLAYS’ 120-YEAR AUDIT

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Barclays is to end its 120-year audit relationship with PricewaterhouseCoopers (PwC) and appoint one of its main rivals in the latest shake-up at the embattled bank.

SHELL BOSS REJECTS SCOTTISH INDEPENDENCE

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The chief executive of Royal Dutch Shell has said he wants Scotland to remain part of the UK. At the company’s annual reception in London, Ben van Beurden said he valued the “continuity and stability” of the UK.

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