August 5, 2012 / 12:45 PM / 5 years ago

Press Digest - Sunday British Business - Aug 5

LONDON, Aug 5 (Reuters) - British newspapers reported the following business stories on Sunday:

The Sunday Times BRAZILIAN BANK EYES BID FOR RBS’ U.S. UNIT Brazilian lender Itau Unibanco is mulling a bid for Citizens, the American unit of British state-controlled Royal Bank of Scotland. Itau, keen to break into the United States, has yet to make an approach, and is also eyeing Santander’s Sovereign Bancorp and Societe Generale’s Bank West. INVESCO MULLS BUYOUT OF JJB SPORTS DEBT Fund manager Invesco, the biggest shareholder in British sports retailer JJB Sports, is considering buying out the group’s debt from Lloyd’s Banking Group as part of a restructuring plan.

BARCLAYS MULLS WITHHOLDING EXECUTIVE BONUSES UNTIL RETIREMENT British lender Barclays is examining proposals to award management bonuses in shares and defer all payments until the recipient retires or leaves the bank.

The Sunday Telegraph EU SCRUTINISES UNIVERSAL DISPOSAL PLANS European regulators have questioned rivals of Vivendi’s Universal Music Group about whether they are satisfied with disposals it is planning in order to win approval for its takeover of EMI.

XSTRATA SHAREHOLDER TO HOLD OUT FOR HIGHER GLENCORE OFFER Qatar Holdings, the second-biggest shareholder in Xstrata , will hold out for a higher offer from suitor and fellow investor Glencore despite an anticipated drop in half-year profits at the mining group.

The Mail on Sunday BT MAY JOIN RIVALS IN BSKYB BLOCKBUSTER FIGHT British telecoms firm BT may team up with rivals to challenge regulators’ decision last week that a deal struck by broadcaster BSkyB giving it the right to screen Hollywood blockbusters first does not give it an unfair advantage.

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