PRESS DIGEST- British Business - Oct 23

Oct 23 (Reuters) - 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

- Liberty Global PLC, is in talks to acquire Cable & Wireless Communications PLC in a deal worth nearly 4 billion pounds ($6.16 billion), which would help to bolster the group's presence in South America and the Caribbean. (http://thetim.es/1QYSkH9)

- Guy Hands's Terra Firma is buying back a renewable energy company it floated two years ago after the shares failed to make headway on the stock market, partly because of subsidy cuts. Monterey Group, owned by the private equity group, is offering 185p a share for the 31.5 percent it does not own in Infinis Energy PLC, which operates generating plants using landfill gas and had promised to expand into wind power.(http://thetim.es/1OVbCOD)

The Guardian

- Mario Draghi, president of the European Central Bank, has stunned markets by signalling that he is prepared to cut interest rates and step up quantitative easing to stave off the risk of a renewed economic slump in the euro zone. (http://bit.ly/1MHlwP6)

- Police are investigating a "significant and sustained" cyber attack on the website of TalkTalk Telecom Group Plc . The attack, which took place on Wednesday, could have compromised customers' credit card and other personal details. (http://bit.ly/1W7u3jn)

The Telegraph

- Leading figures from the steel industry have been called to give evidence to MPs next week about the crisis engulfing the sector. Members of the Business, Innovation and Skills Select Committee will take evidence from senior staff at Tata Steel United Kingdom and other leading steel makers to try to understand the causes behind the industry's problems. (http://bit.ly/1KseyvI)

- British investors could soon begin legal action against banks accused of rigging foreign exchange markets, after Barclays Plc, Royal Bank of Scotland Group Plc and HSBC Holdings Plc paid a combined total of almost $1 billion to settle claims in the United States. The trio agreed to pay hundreds of millions of dollars each to end civil claims in New York brought by global companies, pension funds and hedge funds. (http://bit.ly/1LQc281)

Sky News

- Vauxhall is considering recalling some of its Zafira models after a problem with the dashboard caused dozens to burst into flames. Drivers of more than 130 of the cars, made between 2005 and 2014, have reported the issue that originates behind the glovebox causing the area to heat up. (http://bit.ly/1Lpjjdo)

- Volkswagen AG is checking whether more of its diesel cars are fitted with software designed to cheat emissions tests. The company, which is already facing a huge task to recall and fix 11 million cars caught up in the scandal worldwide, said it was trying to determine if another engine was fitted with the so-called 'defeat device'. (http://bit.ly/1GXOGYz)

($1 = 0.6498 pounds) (Compiled by Sangameswaran S)

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