April 20, 2014 / 2:10 PM / in 4 years

PRESS DIGEST-Sunday British Business - April 20

LONDON, April 13 (Reuters) - British newspapers reported the following business stories on Sunday. Reuters has not independently verified these media reports and does not vouch for their accuracy. The Sunday Times OIL EXPLORER LOOKING TO LIST IN OSLO

Oil explorer African Petroleum, founded by Frank Timis, is planning to float on the Oslo stock exchange after the natural resources entrepreneur was barred from listing the company in the UK four years ago. The company is listed in Australia where it stock price has gyrated wildly. TOP SALARY TO LURE NORTH SEA REGULATOR CHIEF

The head of the UK’s new regulator for the North Sea is set to be one of the best-paid public servants in Britain.

The new regulator, created after a government review into Britain’s offshore oil sector last month, is searching for candidates to lead the body which is tasked with maximising recovery of North Sea oil and gas reserves.

The Department of Energy and Climate Change hopes to have someone in place by July. TYCOON EYES REFINERY RESCUE

American financier Gary Klesch could mount a last-ditch bid to save Murco’s Milford Haven oil refinery. Klesch is among a handful of investors interested in the refinery which Murphy Oil , Murco’s American parent, has been looking to sell for three years. PHLEXGLOBAL SEEKS 50 MLN STG SALE

Phlexglobal, which helps bigger drug companies to run trials for new medicines, is being groomed for sale by its private equity backer Inflexion, with price target of around 50 million pounds. The company could be sold to a bigger drug services company or a rival private equity investor. TESCO‘S BLINKBOX LOSES 30 MLN STG

Tesco’s online video service Blinkbox has lost tens of millions of pounds since Tesco bought it three years ago. The subsidiary lost 18.5 million pounds last year, 5.7 million pounds in 2012 and an insider told Sunday Times these losses had deepened to 30 million pounds this year. RBS PUTS TROUBLESHOOTER IN CHARGE OF ITS CO-OP LOANS

Royal Bank of Scotland has put Bob Hedger, one of its top corporate troubleshooters, in charge of its loans to Britain’s troubled Co-Operative Group. The Sunday Telegraph FRACKING TO DELIVER BILLIONS TO UK SUPPLY CHAIN

Britain’s shale gas and oil industry could create tens of billions of pounds for the UK supply chain, according to a report by UK Onshore Operators to be published this week.

Report will highlight how specific sectors, such as manufacturers of steel for fracking equipment, could benefit. RBS MULLS LEGAL ACTION OVER REPORT

Royal Bank of Scotland is considering suing Lawrence Tomlinson for libel after he alleged the lender of deliberately putting customers out of business for profit. RSA TO CUT HUNDREDS OF MILLIONS OF POUNDS FROM COSTS

New chief executive of RSA Insurance Group, Stephen Hester, will attempt to cut hundreds of millions of pounds of costs as the insurer moves into the next stage of its rehabilitation, although no specific savings target has been set. VODAFONE SUED FOR 1.1 BLN STG BY FORMER GREEK PARTNER

Greek businessman Athanasios Papistas is claiming 1.1 billion pounds in damages from Vodafone after the British telecoms company pulled out of a retail franchise deal with the businessman. The case is not due to be heard before Greek courts until 2016. Vodafone denies the allegations. CITY WATCHDOG READY TO TIGHTEN RULES TO PROTECT MINORITY SHAREHOLDERS

The Financial Conduct Authority will next month look at changing the listing rules so that a majority investor will have to get support from a large number of smaller shareholders to take a company private. (Reporting by Stephen Eisenhammer in London; editing by William Hardy)

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