March 5, 2013 / 2:00 AM / 5 years ago

PRESS DIGEST - British Business - March 5

March 5 (Reuters) - The Telegraph

REGULATORS GIVE CAPITAL ‘GREEN LIGHT’ TO HSBC

HSBC has become the first British bank to be given the green light by the financial regulator on its capital position, ahead of a report expected to identify shortfalls at several lenders.

TALKS FOR EDF ENERGY TO BUILD NUCLEAR PLANTS ‘COULD FAIL WITHIN WEEKS’

Talks between EDF Energy and the government over building Britain’s first new nuclear plant in a generation are at “crisis point” and could fail within weeks because of deadlock over subsidies for the project.

BANKS WITHDRAW 1.88 BLN STG FROM ECONOMY, OFFSETS RISE IN LENDING

Britain’s banks and building societies drew 13.8 billion pounds from the state-backed Funding for Lending cheap credit scheme (FLS) in its first five months of operation, but cut loans to households and businesses by almost 2 billion pounds.

LANSDOWNE BOSS SIR PAUL RUDDOCK RETIRES FOR THE ARTS

Sir Paul Ruddock, one of the country’s top financiers and a major Tory party donor, is retiring as chief executive of Lansdowne Partners, the hedge fund he co-founded in 1998, to devote his time to the arts and charity.

GROUPON‘S EX-CHIEF ANDREW MASON PAID $378.36 IN SEVERANCE

Groupon’s now ex-chief executive Andrew Mason will receive just $378.36 in his severance package, after he was fired from the company he founded last week.

SFO‘S EX-CHIEF RICHARD ALDERMAN CRITICISED OVER 1 MLN STG OF PAYMENTS

The former head of the Serious Fraud Office has been heavily criticised for allegedly sanctioning almost 1 million pounds of severance payments to three departing colleagues without getting the necessary approvals.

The Guardian

200 HSBC STAFF PAID MORE THAN 1 MLN STG IN 2012

HSBC paid 204 of its staff more than 1 million pounds in 2012, a year when Britain’s biggest bank made profits of $20.6 billion despite being fined 1.2 billion pounds by the U.S. authorities for helping Mexican drug barons launder money through the financial system.

EASYJET POISED TO FLY INTO FTSE 100

EasyJet Plc, the airline founded in 1995 by Sir Stelios Haji-Ioannou with two borrowed planes, should, by close of trading on Tuesday, secure its place among Britain’s blue-chip companies as a member of the FTSE-100.

DEBENHAMS SHARES CRASH ON PROFITS WARNING

Debenhams Plc blamed the snow for a surprise profits warning that sent its shares tumbling more than 14 percent on Monday.

The Times

JAGUAR LAND ROVER TO DOUBLE CAPACITY OF WOLVERHAMPTON ENGINE PLANT

Jaguar Land Rover is to take on another 700 workers in the West Midlands after a decision to double the capacity of a new engine plant in Wolverhampton.

The Independent

FORMER LLOYDS CHIEF ERIC DANIELS LANDS PRIVATE EQUITY JOB

Eric Daniels, the former chief executive of Lloyds Banking Group, showed yesterday that being discredited in the public eye is no barrier to lucrative new roles in finance.

WARREN BUFFETT ADVISES APPLE BOSS COOK OVER DAVID EINHORN

Warren Buffett has advised Apple boss Tim Cook to “ignore” David Einhorn, the hedge-fund manager who has been pressing for the technology firm to return some of its giant $137 billion cash pile to shareholders.

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