February 27, 2013 / 1:35 AM / 4 years ago

PRESS DIGEST - British Business - Feb 27

Feb 27 (Reuters) - The Telegraph

BANK OF ENGLAND MULLS NEGATIVE INTEREST RATES

The Bank of England is considering the "extraordinary" idea of negative interest rates as one of a number of radical policies to help return the UK to growth.

GULF OF MEXICO DISASTER CAUSED BY 'CLASSIC FAILURE' OF LEADERSHIP AT BP

America's worst offshore oil spill was caused by a "classic failure" of leadership at BP, a court has been told, as prosecutors turned their fire on the UK company's board.

GLENCORE'S GLASENBERG SAYS MINING CEOs 'SCREWED UP'

Ivan Glasenberg, head of commodity giant Glencore, has launched an extraordinary broadside against fellow chief executives, condemning mining's record as "catastrophic".

TESCO TO PAY 6.5 MLN STG FINE IN DAIRY PRICE FIXING SETTLEMENT

Tesco is to pay a 6.5 million pound fine for its part in a dairy price fixing scandal, after losing a decade-long court battle.

MIKE ASHLEY BANKS 100 MLN STG FROM FIRST SPORTS DIRECT SHARE SALE

Mike Ashley has cut his stake in Sports Direct to 64 percent after raising 100 million pounds through his first sale of the retailer's shares since he floated the company in 2007.

1.4 MLN COMPLAIN TO LLOYDS ABOUT PPI IN ONE YEAR

Nearly 1.4 million complaints were made to Lloyds Banking Group during 2012 about payment protection insurance (PPI), figures released today showed.

SHELL BUYS REPSOL LNG ASSETS IN 4.4 BLN STG DEAL

Royal Dutch Shell has bought a portfolio of liquefied natural gas (LNG) assets from Spanish energy giant Repsol in a $6.7 billion (4.4 billion pounds) deal.

The Guardian

BARCLAYS TO REVEAL AS MANY AS 600 STAFF EARN MORE THAN 1 MLN STG A YEAR

Barclays is expected to reveal next week that as many as 600 of its staff are paid more than 1 million pounds, in the most detailed disclosure yet about how much its 140,000 employees take home each year.

WHITBREAD BOSS BACKS TIGHTER FOOD REGULATION AFTER HORSEMEAT SCANDAL

The boss of Whitbread, the leisure group behind the Beefeater and Brewers Fayre pub chains, has attacked what he called Britain and Europe's "piecemeal regulation and patchwork certification" for the processed meat industry after it was caught up in the horsemeat scandal.

MORRISONS ADDS HMV STORES TO ITS BASKET

Morrisons has snapped up six HMV stores from the failed music company's administrators as part of its continuing drive to expand its convenience store operation.

The Times

EU CHIEF TELLS GEORGE OSBORNE TO KEEP HIS FAITH IN AUSTERITY

George Osborne must reject renewed calls for a budgetary U-turn because it would jeopardise Britain's ultra-low bond yields, the European Union's economic chief has warned.

TESCO MAKES A U-TURN ON FOOD SUPPLY CHAIN

Tesco is to lay open its supply chains to public scrutiny for the first time after a backlash over the horsemeat scandal, its chief executive will announce on Wednesday.

The Independent

HEDGE FUND TOP FIVE POCKET MORE THAN $1 BLN EACH

Five of the $2 trillion hedge fund industry's biggest names each took home more than $1 billion last year, according to Forbes magazine's latest Rich List for the industry.

BANK'S GOVERNOR SAYS QE SHOULD NOT BE SEEN AS PROVOCATIVE

Sir Mervyn King has insisted money printing by central banks should not be considered provocative shots in a global "currency war" and that each country should focus on doing what is necessary to restore growth.

FOUNDER CLOSES THE DOOR ON TAKING REDROW PRIVATE

Redrow founder Steve Morgan has appeared to rule out another attempt to take the housebuilder private after the Takeover Panel thwarted a 610 million pound attempt last autumn.

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