PRESS DIGEST- British Business - Jan 16

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

Royal Bank of Scotland's former chairman and senior directors stand to make millions in the planned stock market listing of Shawbrook Bank (IPO-SHAW.L). (http://thetim.es/1MoYbot)

Britain's competition regulator will warn energy companies this week that they are giving longstanding customers a raw deal and should ensure that they are treated the same way as those who switch suppliers. (http://thetim.es/1CxG6iC)

The Guardian

Low oil prices and inflation will help Britain record its fastest growth since the financial crisis, according to the CBI. (http://bit.ly/1yIuAfw)

Two national indices published on Monday paint sharply contrasting portraits of the UK property market, adding to erratic data over the past month that has left economists increasingly puzzled. (http://bit.ly/1Ach1bY)

The Telegraph

A Greek exit from the euro zone appears inevitable and Britain must insulate itself from the effects, former Chancellor Ken Clarke has warned. (http://bit.ly/1zGi6VK)

City Link owed its suppliers 30 million pounds ($46.26 million) when it controversially collapsed into administration on Christmas eve, documents from the company's directors have revealed. (http://bit.ly/1EeVv7h)

Sky News

The consolidation of London's professional services industry will accelerate this week when a division of Zolfo Cooper, an adviser on corporate restructurings, is snapped up in a deal worth just under $100 million. (http://bit.ly/1CxHrWA)

Tesco PLC has approached the former Conservative MP Archie Norman about becoming its chairman as the UK's biggest retailer nears a decision on a crucial component of its revival plan. (http://bit.ly/1B9ZJiL)

The Independent

Virgin Media has announced it is investing 3 billion pounds in expanding its fibre optic broadband network - in a move that will create 6,000 UK jobs. (http://ind.pn/1yv9HnK)

UK's Labour has said that bankers who engage in "inappropriate behaviour" could face having their bonuses clawed back up to 10 years after they were awarded if the party comes to power in May.

($1 = 0.6486 pounds) (Compiled by Aurindom Mukherjee; Editing by Nick Zieminski)

Advertisement