December 3, 2013 / 1:20 AM / 4 years ago

PRESS DIGEST- British Business - December 3

Dec 3 - 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

DERIVATIVE MARKETS HAVE ALREADY UPGRADED BRITAIN TO AAA

The cost of insuring British debt against default has fallen below the levels for the US, Switzerland, Japan and every major eurozone state except Germany, marking a dramatic change of view on UK’s economic prospects.

ALBEMARLE & BOND PUTS ITSELF UP FOR SALE

Britain’s second biggest pawnbroker Albemarle & Bond has put itself up for sale and said that the process includes the possibility of a takeover offer for the company although there could be no certainty that the offer will be made.

The Guardian

NATWEST AND RBS CARDS DECLINED DUE TO IT MELTDOWN ON MEGA MONDAY

A technological banking glitch on one of the busiest online shopping days of the year left millions of shoppers unable to pay for transactions using their credit or debit cards.

TRIAL BEGINS FOR FORMER BP ENGINEER ACCUSED OF DESTROYING OIL SPILL EVIDENCE

Jury selection began Monday for the Justice Department’s case against a former BP drilling engineer charged with deleting text messages and voicemails about the company’s response to its massive 2010 oil spill in the Gulf of Mexico.

The Times

DEBT ADVICE SERVICE A WASTE OF MONEY, SAY FURIOUS MPS

An official money advice service bankrolled by every retail financial institution in Britain is being accused by MPs of wasting a large chunk of its 81million pounds budget and paying some of its executives far too much.

FIFTY YEARS ON, DIAGEO PAYS OUT TO THALIDOMIDE VICTIMS

Dozens of Antipodean victims of thalidomide won a 52million pounds payout from Diageo yesterday as the British drinks company settled longstanding liabilities associated with the drug.

Sky News

CABLE TO NAME MORGAN AS BUSINESS BANK CHIEF

A former board member of Northern Rock will this week be named as the first permanent boss of the British Business Bank, one of the Government’s flagship projects for stimulating lending to smaller companies.

HOUSEHOLDS RAID SAVINGS AT RECORD RATE

Households are pulling money out of their savings accounts at the fastest rate in modern record, according to Bank of England figures. In the past year, families have withdrawn £23bn from their long-term savings account to convert into cash and put into current accounts.

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