PRESS DIGEST- British Business - Feb 23

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 Times

NEXT RBS CHAIRMAN MUST MEET CHANCELLOR'S APPROVAL

The leading candidate to become the next chairman of Royal Bank of Scotland will have to meet the chancellor to discuss his or her vision for the bank before formally receiving the role. (http://thetim.es/1AyXDpH)

CHANCELLOR BREAKS HIS SILENCE OVER HSBC TAX SCANDAL

George Osborne has broken his silence over the tax scandal surrounding HSBC Holdings Plc by saying that it should be left to the courts to deal with any wrongdoing. The chancellor spoke out after claims that he was ducking questions over the bank and why there had been only one prosecution after allegations of tax evasion through its Swiss subsidiary. (http://thetim.es/1vqnf9b)

The Guardian

SWISS ACCOUNT SECRET OF HSBC CHIEF STUART GULLIVER REVEALED

Stuart Gulliver, the HSBC Holdings Plc chief executive who has vowed to reform the crisis-hit bank, sheltered millions of pounds in a Swiss account through a Panamanian company and remains tax domiciled in Hong Kong. Leaked files show that the Derby-born Gulliver held about 5 million pounds ($7.69 million) in a Swiss account. (http://bit.ly/17K6Gda)

MPS CALL FOR OFGEM TO CRACK DOWN ON ENERGY NETWORK COSTS

The energy watchdog, Ofgem, has come under fire from MPs for exposing consumers to higher bills by failing to crack down on industry costs. The Commons energy and climate change committee said new price caps for National Grid and other power distribution companies, intended to keep down the costs of distributing and transmitting gas and electricity, were too generous. (http://bit.ly/1DIhoix)

The Telegraph

P&O CELEBRATES HANDOVER OF ITS BIGGEST SHIP

P&O Cruises on Sunday celebrated the handover of the biggest addition to its fleet. The final instalment of the 473 million pounds Britannia was 5 percent cheaper than expected because of the strength of sterling against the euro. The original budget for the 141,000-tonne cruise liner, with accommodation for 3,600 passengers and 1,400 crew, had been 500 million pounds. (http://bit.ly/1EkvAxa)

GREECE READIES LIST OF REFORMS TO DODGE BANKRUPTCY

The Greek government will put forward plans to root out tax evasion and overhaul the country's labour laws in a bid to convince international creditors it should be granted a vital extension of its bailout programme. Athens is due to present a series of proposals to its international creditors formerly known as the Troika, in return for a four-month bailout reprieve which will help avert bankruptcy in the stricken country. (http://bit.ly/17oyV1b)

Sky News

POLICE ASSESSING AL SHABAAB UK MALL THREATS

Islamist militants have released a video in which they appear to call for terrorist attacks on some of the busiest shopping areas in the UK and the United States. U.S. authorities have said they are taking the threats seriously. (http://bit.ly/1vZmqPJ)

JACK STRAW SUSPENDED OVER 'CASH FOR ACCESS'

Jack Straw has been suspended from the Labour Party over claims of a "cash for access" scandal. The former foreign secretary, along with Tory MP Malcolm Rifkind, were secretly filmed by the Daily Telegraph in a joint investigation with Channel 4's Dispatches programme apparently offering to use their influence in return for money. (http://bit.ly/18f73xt)

The Independent

APPLE SUED FOR ALLEGEDLY POACHING BATTERY ENGINEERS FROM ELECTRIC CAR FIRM

A123 Systems makes batteries for electric cars and claims that Apple Inc has hired its staff. The accusations come amid claims that Apple is planning an electric car of its own. (http://ind.pn/1zsTlOb)

COLLAPSE IN NEW HOMEBUILDING HEAPS PRESSURE ON MINISTERS

The number of new homes being built collapsed in the second half of last year. There were only 29,800 new housing starts in England in the final quarter of 2014, the Communities Department reported. The news will be a grave embarrassment for ministers who have been claiming that the construction industry is booming. (http://ind.pn/17jbqqj)

($1 = 0.6499 pounds) (Compiled by Zara Mascarenhas in Bengaluru)

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