PRESS DIGEST- British Business - May 27

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 fined Stewart Ford, the founder and chief executive of Keydata, the failed investment firm, 75 million pounds ($115.43 million) after tens of thousands of people lost out as a result of the poor performance of the bonds. (http://thetim.es/1FCifA2)

The Irish government has accepted a bid for its 25.1 percent stake in Aer Lingus from International Airlines Group that values the former national carrier at 1.4 billion euros ($1.52 billion). (http://thetim.es/1FCiN94)

The Guardian

Greece could secure vital weeks to negotiate a rescue deal with its creditors if Athens is able to delay repayments worth 1.6 billion euros to the International Monetary Fund, as critical deadlines approach. (http://bit.ly/1FCiMBW)

Power sharing in Northern Ireland entered a new crisis on Tuesday when a bill to reform the region's welfare system was shot down by nationalist parties. The failure to push legislation through the Stormont assembly leaves the Northern Ireland executive with a 600 million pound black hole in its budget. (http://bit.ly/1FCiXNJ)

The Telegraph

New research has found that many sellers, who watched annual house price growth in London gradually slow over the last nine months, have now kick-started the sales process, banking on heightened demand following the election and a seasonal increase in what the buyer is willing to pay. (http://bit.ly/1FCjsXX)

Banker Tom Hayes, described as the "ringmaster" of a cartel of powerful traders, made 4.8 million pounds ($7.39 million) rigging interest rates that influence loans and other contracts while working at UBS and Citigroup, the Southwark Crown Court heard. (http://bit.ly/1FCjvmA)

Sky News

Charter Communications has confirmed a $56.7 billion deal to take over Time Warner Cable, creating one of the largest TV and internet providers in the U.S. (http://bit.ly/1FCjMGr)

David Peattie, who took over as chief executive of Fairfield Energy in 2011, is to leave the company in the wake of its announcement that it is to decommission its Dunlin Alpha platform. (http://bit.ly/1FCjShe)

The Independent

The Financial Conduct Authority's income from fines is set to fall short of a record for the first time since 2011, despite announcing two of the three biggest penalties ever imposed on financial firms operating in Britain within the past month. (http://ind.pn/1FCk1kA)

Jony Ive, the British man behind the design of Apple's best known products from the iMac to the iPod to the Apple Watch, has been promoted from his previous position of senior vice president of design. (http://ind.pn/1FCk93K)

($1 = 0.6497 pounds) ($1 = 0.9189 euros) (Compiled by Ankush Sharma in Bengaluru)

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