December 9, 2012 / 2:40 PM / 5 years ago

PRESS DIGEST - Sunday British Business - Dec 9

LONDON, Dec 9 (Reuters) - British newspapers reported the following business stories on Sunday:

Sunday Telegraph

DIAGEO HELD TALKS ON BUYING U.S. RIVAL BEAM Drinks group Diageo Plc has held talks with Japanese brewer Suntory about a joint acquisition of bourbon whiskey maker Beam for more than $10 billion. BoE LAUNCHES 1 BLN STG BANKNOTE CONTRACT The Bank of England has put production of all its bank notes out to tender in a 14-year, 1 billion pound contract previously held by De La Rue Plc.

TESCO MET WITH TATA AHEAD OF RENEWED INDIA PUSH Tesco Plc Chief Executive Philip Clarke met with members of the Tata family this weekend to begin to flesh out plans for the retailer’s push into India.

BARCLAYS HITS BACK IN SWAPS MIS-SELLING CASE Barclays said in documents filed in the High Court that residential care home operator Guardian Care Homes had sufficient “market sophistication” to understand the interest rate swap product it was sold.

Sunday Times

BRANSON READY TO OFFLOAD AIRLINE TO DELTA AND AIR FRANCE IN DAYS A deal in which American airline Delta could purchase Singapore Airlines’ 49 percent stake in British carrier Virgin Atlantic, and where Air France-KLM buys up most of Virgin founder Richard Branson’s 51 percent stake, could be finalised early next week.

BETFAIR BEGIN 20 MLN STG COST-CUTTING DRIVE Betfair Chief Executive Breon Corcoran is expected to announce plans to slash about 20 million pounds in costs at the online gambling operator this week.

Independent on Sunday BANKS PITCH FOR BROKER ROLE WITH NORTH SEA OIL EXPLORER Goldman Sachs and JP Morgan are said to be among the big names pitching for a key advisory role with British oil explorer Cairn Energy.

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