PRESS DIGEST- British Business - Feb 9

Feb 9 - 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

The Financial Conduct Authority has admitted that it must tighten its rules over trading by staff in shares of the banks and brokers it regulates after an internal inquiry found that sensitive information was being stored in places where any employee could find it. (http://thetim.es/1TP38Lv)

Britain's Supreme Court is to hear an urgent appeal on behalf of thousands of Lloyds bank retail bondholders against its attempts to buy back their assets at a reduced price, in a scheme that was due to start today. (http://thetim.es/1TP3emq)

The Guardian

Imagination Technologies, maker of Pure digital radios, has decided to sell the business and parted company with its longtime chief executive, Hossein Yassaie, after warning that it would suffer a loss this year. (http://bit.ly/1TP222p)

Britain's leading experts on public finances are warning that the turmoil of global stock markets threatens to leave a 2 billion pounds ($2.88 billion) black hole in George Osborne's deficit-reduction plans that could force the chancellor to raise taxes or make fresh cuts in spending to hit his budget targets. (http://bit.ly/1TP2bD1)

The Telegraph

Ascential, the magazine business jointly owned by Guardian Media Group and private equity group Apax, is expected to float for 820 million pounds ($1.18 billion) on Wednesday after eight years in private ownership. (http://bit.ly/1TP2DkC)

Royal London Asset Management, which manages more than 80 billion pounds ($115.36 billion) of assets, has told bosses that it will not tolerate mega bonus payouts at lenders which are failing. (http://bit.ly/1TP2Mof)

Sky News

The Rugeley plant in Staffordshire, a coal-fired power station that can provide enough energy to power one million homes, is to close this summer with the potential loss of 150 jobs. (http://bit.ly/1TP2QUW)

The major shareholders of easyGym - who do not include Stelios Haji-Ioannou, the high-profile easyGroup founder - have appointed Houlihan Lokey, an investment bank, to oversee a sale of the fitness club chain later this year, Sky News said. (http://bit.ly/1TP31j8)

The Independent

Charities in UK are calling on the government to introduce legislation to ban supermarkets from sending unsold food to landfills. On Wednesday, France introduced a law that bans supermarkets from throwing away waste food - instead forcing them to donate it to charities and food banks or face a fine of 3,750 euros ($4,200.38). (http://ind.pn/1W8D0Kk) ($1 = 0.6935 pounds) ($1 = 0.8928 euros) (Compiled by Ismail Shakil in Bengaluru; Editing by Bernard Orr)

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