December 2, 2012 / 2:45 PM / in 5 years

PRESS DIGEST - Sunday British Business - Dec 2 - RTRS

LONDON, Dec 2 (Reuters) - British newspapers reported the following business stories on Sunday:

Sunday Times

DELTA EYES VIRGIN ATLANTIC SWOOP Delta Air Lines, America’s largest airline, aims to take control of Virgin Atlantic after making a secret approach to the British carrier’s Asian shareholder, Singapore Airlines. RBS SLASHES CASINO BANK The Royal Bank of Scotland is expected to shrink its investment bank even further after refusing to cave into pressure to sell its American business. VION UK TO BE CHOPPED UP Vion UK, which was formerly known as Grampian Country Food, is to be broken up this week with the meat processing firm’s pork operations to be sold to management, securing 5,000 British jobs. CARGILL BUYS IRISH PROPERTY LOANS Cargill, the world’s largest grain trader, has bought a portfolio of Irish property loans worth 380 million euros from the Lloyds Banking Group. SUITORS CIRCLE PORTUGAL HUB The owner of Gatwick airport and one of the bidders for Stansted are battling to take control of Portugal’s airports. 300 MILLION POUNDS TAG ON SCHOOLS’ BIBLE The Times Educational Supplement is close to being put on the block in a deal that could value the bible of British teachers at 300 million pounds. Charterhouse, the private equity firm, has appointed Goldman Sachs to find buyers, sources have said. MISSING CASH KILLS OFF CITY THINK TANK A man has been arrested in connection with suspected fraud at City think tank the International Centre for Financial Regulation, which was shut on Wednesday after a “significant” sum appeared to have been removed from its bank accounts. OSBORNE ANGERS GREENS WITH NEW DASH FOR GAS George Osborne is to unveil a new dash for gas this week, with plans to build 20 power stations and incentives to develop Britain’s shale reserves. Sunday Telegraph CUADRILLA TO RESUME FRACKING AFTER OSBORNE BACKS UK SHALE GAS Cuadrilla is poised to spearhead the creation of a new UK industry in shale gas extraction, its chief executive has said, as the company prepares to resume “fracking” in Lancashire. CENTRICA CONSIDERS 500 MILLION POUND SHARE BUYBACK British gas firm Centrica is weighing up a return of up to 500 million pounds cash to its shareholders early next year. MYNERS DEFENDS MEGAFON Lord Myners has hit back at criticism over corporate governance concerns surrounding Megafon, saying the London market should be careful not to develop an “arrogant stance” towards overseas listings. WPP SET FOR BRITISH RETURN WPP, the world’s largest advertising agency, looks set to return to British shores in January after four years domiciled in Ireland. Independent on Sunday CENTRICA WRITES OFF 200 MILLION POUNDS ON NUCLEAR POWER PROJECT

Centrica, the British gas company, is expected to write off 200 million pounds when it pulls out of the country’s nuclear new build programme in the new year.

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