PRESS DIGEST- British Business - Sept 24

Sept 24 (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 SFO PUTS TESCO IN THE SPOTLIGHT AS CRISIS DEEPENS Britain's Serious Fraud Office is following events at the country's biggest supermarket chain Tesco Plc closely as the company investigates whether any deliberate manipulation was involved in the creation of 250 million pounds ($409.75 million) of illusory profits. (http://thetim.es/1sWBeMt)

TESCO'S RETAIL RIVALS WARNED OVER RISKS IN ACCOUNTS Auditors have warned leading retailers including J Sainsbury , Wm Morrison and Travis Perkins Plc that they could be at risk of a Tesco-style accounting fiasco. (http://thetim.es/1rmAq6V) ANOTHER FINE MESS FOR BARCLAYS, THE BRITAIN'S MOST PENALISED FINANCIAL GROUP Barclays Plc has been officially declared the most-fined financial institution in Britain after confirming that it is paying a 38 million pound penalty for failings that put billions of pounds of client money at risk. (http://thetim.es/1uFjhUJ)

The Guardian JIMMY CHOO PLANS FLOTATION VALUED AT MORE THAN 700 MLN STG Jimmy Choo (IPO-JIM.L) has set out plans to join the London Stock Exchange next month in a deal that could value the upmarket shoemaker at more than 700 million pounds, seeking to woo investors with the prospect of expansion in Asia. (http://bit.ly/XYdSO4)

BANK OF ENGLAND DEPUTY CALLS FOR U.S. CO-OPERATION OVER BANK FINES The deputy governor of the Bank of England has called for better co-operation with U.S. regulators over the scale of fines being levied on banks to ensure they do not weaken their financial position. (http://bit.ly/ZcrKpi)

The Telegraph MOBILE OPERATORS IN TALKS FOR RURAL COVERAGE COMPROMISE

Britain's mobile operators are in talks with the government over a deal to share access to their masts in an effort to improve coverage in rural areas. The plans would allow EE, O2, Three and Vodafone Group Plc to avoid a more economically and technically challenging 'national roaming' regime being imposed, according to government sources. (http://bit.ly/1wKT6xF)

BRITISH TAXPAYERS SET FOR $3 BLN WINDFALL AFTER RBS-OWNED CITIZENS PRICES IPO Citizens Financial Group, the U.S. bank owned by Royal Bank of Scotland, has priced its initial public offering at $21.50 a share, releasing more than $3 billion that has been trapped in America to taxpayers in the Britain. (http://bit.ly/1tXXfiq)

Sky News SINGAPOREAN STATE FUND GIC IN TAKEOVER TALKS RAC FOR OVER 2 BLN STG

Singaporean state fund GIC is in talks to lead a takeover of roadside recovery business RAC for over 2 billion pounds, a move that would end the prospect of a stock market listing of RAC. (http://bit.ly/1riGeNv)

TESCO PROFIT ERROR: NEW FINANCE BOSS RUSHED IN Tesco Plc has managed to secure the services of its new Chief Financial Officer Alan Stewart more than two months early - a day after revealing a 250 million pound profits error. (http://bit.ly/1DvOSP9) The Independent

GOLDMAN SACHS'S NEW LONDON HQ FACING LEGAL CHALLENGE FROM NEIGHBOURS OVER THEIR 'RIGHT TO LIGHT' Goldman Sachs Group Inc's new headquarters in London is facing a possible legal challenge from the owners of neighbouring buildings - who claim the proposed office will steal their light. (http://ind.pn/1B4bD8G)

(1 US dollar = 0.6101 British pound) (Compiled by Rama Venkat Raman in Bangalore; Editing by Lisa Shumaker)

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